Customers are seen at an outlet of South Africa's MTN Group at the Mall of the South in Johannesburg, South Africa, November 4, 2022. REUTERS/Siphiwe Sibekowill invest $1 billion in Ghana over the next five years, the mobile operator said on Wednesday, after the government exempted its Ghanaian unit from tax claims worth about $773 million.
The investment comes on the heels of the Ghana Revenue Authority exempting the company's bill for back taxes earlier this month after the incidentThe tax claim was initially issued after the revenue authority audited the company for the years 2014 to 2018 and inferred that it under declared its revenue by about 30% during the period.
MTN Chief Executive Officer Ralph Mupita said the company was committed to investing in Ghana despite short-term headwinds. "To be sure, macro-economic conditions are very challenging in the near term. That said we are focused on the medium and long term and we are seeing growth," he said in a statement.
It was clearly an agreement
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