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MTN Emphasizes Cameroon as Key Market for Group Portfolio at BRICS Summit

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MTN Group CEO, Ralph Mupita, held a crucial meeting with Cameroon Prime Minister, His Excellency Joseph Dion Ngute, during the BRICS Summit in Johannesburg. The focus of the discussion was on highlighting the significance of Cameroon within MTN Group’s portfolio.

Empowering Cameroon’s Digital Economy

Mupita emphasized Cameroon’s pivotal role as a key market for MTN Group. The commitment of MTN Cameroon to the country’s digital economy was underscored, with over $200 million earmarked for technology and network services over the next three years.

An additional $25 million is dedicated to strengthening the fintech sector through the subsidiary Mobile Money Corporation.

Addressing Ongoing Challenges and Seeking Guidance

Mupita addressed an ongoing issue concerning the garnishing of the company’s accounts since September 2022. While the matter is before the courts, the CEO sought the guidance of the Prime Minister.

The issue not only impacts the company’s operations but also influences investor sentiment and stakeholder relations.

Assurances from Cameroon Government

The Prime Minister assured the MTN delegation of the government’s recognition of MTN as a significant player, both in Cameroon and across the continent. He affirmed the commitment to the rule of law and pledged that the matter would be resolved swiftly and fairly.

Driving Future Investments and Connectivity

Mupita concluded by expressing MTN’s interest in future technologies like 5G. The company’s dedication to enhancing equitable connectivity throughout Cameroon, especially in rural areas, was reiterated.

MTN Cameroon has already achieved a remarkable 97% countrywide coverage, with ambitious plans to ensure complete coverage for all citizens by 2025.

Accompanying Mupita was Nompilo Morafo, the Group Chief Sustainability & Corporate Affairs Officer.

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