As African governments keep finding new ways to tax mobile operators, MTN has seen fit to recall its many investments on Cameroonian soil.
MTN Cameroon announced that the company paid XaF 542 billion (more than 921 million USD) in various taxes to the government between 2010 and 2014.
A statement issued after a board meeting declared that MTN paid 790 mllion USD in taxes, duties, and royalties, to the government of Cameroon and its regulatory board, in strict compliance with the regulations in force. MTN Cameroon also paid 125 million USD to the State for the renewal of its operating licence in 2015.
MTN Cameroon also announced that 53.1 percent of its annual turnover had been reinvested in the company and local economy in the form of infrastructures reinforcement, payment of employees’ salaries, invoices of suppliers, commissions of distribution partners, not to mention the activities of the MTN Foundation which continues to receive national acclaim.