MTN Group has committed $225 million, over three years, to strengthen its operations in Cameroon.
Group CEO Ralph Mupita made the announcement, last week, during a meeting with Cameroon’s Prime Minister Joseph Dion Ngute, and his delegation, on the sidelines of the BRICS Summit in Johannesburg.
MTN said it is also interested in investing in future technologies, such as 5G, and is committed to ensuring more fair connection across the country by improving rural connectivity.
According to the telco group, MTN Cameroon has connected 97% of the country to date, with plans to offer 100% population coverage by 2025.
Throughout his meetings, Mupita stressed the importance of Cameroon to the MTN Group portfolio. “Cameroon is a key market for MTN Group,” he stated.
“Our local operation, MTN Cameroon, is committed to the development of the digital economy of Cameroon and to this end, has committed – over the next 3 years – an investment of more than $200 million towards technology and network services, and $25 million towards strengthening the fintech business, through the subsidiary Mobile Money Corporation.”
According to MTN, Mupita also discussed a contentious issue with the delegation, in which the company’s accounts in Cameroon have been frozen, since September 2022.
This is based on a garnishee order, served at the request of Ahmadou Baba Danpullo, a business mogul with significant government ties, who is embroiled in a dispute with a South African bank. MTN Group is headquartered in South Africa.
The prime minister has assured MTN that Cameroon’s government regards the telco as a major player in Cameroon, and on the continent.
He further emphasised that the country is committed to the rule of law and that the matter would be settled quickly and equitably.
Mupita was accompanied by Nompilo Morafo, the group’s chief sustainability and corporate affairs officer.