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MTN commits to $1 billion Ghana investment after government scraps tax claim

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JOHANNESBURG : MTN Group will 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

JOHANNESBURG : MTN Group will 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 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 per cent during the period. "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.

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