Tech

MTN to invest $1 billion in Ghana after tax exemption

Published

2 years ago

February 16, 2023

South Africa’s telecommunication giant, MTN Group, will invest a total sum of $1 billion in Ghana over the next five years following a tax exemption amounting to about $773 million, the Group President and CEO, Ralph Mupita said on Wednesday.

Mupita said the MTN Group took the decision after it reaffirmed its commitment to Ghana, a market it has been invested in for over 25 years.

“Since beginning operations in the market, the business has been integral to the economy of Ghana, focusing on enabling connectivity, inclusivity and socio-economic transformation through digital technologies,” he said, while speaking from the MTN Headquarters in Johannesburg.

“MTN remains excited and highly committed to Ghana as a market. 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.”

Mupita said MTN has a subscriber base of over 24 million in the West African country and continues to drive significant growth numbers in data and mobile money.

“In order to promote a thriving telecommunications industry, customers of Vodafone and AirtelTigo are able to remain connected across the country through roaming agreements with MTN where they do not have the infrastructure in place.”

“The Group recently opened a Customer Success Centre for MTN GlobalConnect’s pan-African operations which is phase one of our greater investments in Ghana and an opportunity to onshore digital skills into the market.”

He said MTN Group intends to invest in broadening their 5G network in Ghana to spur further growth across various sectors.

“We will invest an equivalent of $1 billion of capital expenditure over the next 5 years. We see 5G as a technology that could spur faster growth with industrial use cases in mining, agriculture, oil, ports, logistics and smart cities over time. There are short-term headwinds but the investment case for Ghana remains very compelling,” the Group CEO said.

Related Topics:Featured Ghana Investment MTN Tax Exemption

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Tech

Kenya’s ticketing startup BuuPass partners Flexpay for flexible travel payments

Published

1 day ago

December 19, 2024

Isaac Dachen

Kenyan digital ticketing startup, BuuPass, has entered into a partnership with goal-based savings platform, Flexpay, to offer customers flexible payment plans ahead of holiday travels as well as simplify travel planning and ease the financial burden of holiday travel for Kenyans.

Co-founder and CEO at Buupass, Sonia Kabra, who unveiled the package at a press conference, said the collaboration between the two platforms will allow travellers to save for their journeys in manageable, interest-free installments over four to 12 weeks.

“Travelers can select their travel dates, book tickets, and pay a small deposit upfront, with the remaining balance spread across weekly or monthly payments,” she said.

“This approach offers a stress-free way for families and large groups to secure their tickets early, helping them avoid last-minute price hikes as fares are locked in.

“By partnering with Flexpay, we’re giving travelers the flexibility to budget for their trips in advance. This initiative aligns with our mission to make travel accessible to everyone, providing a solution that meets customers where they are financially,” said Kabra.

Also speaking at the event, Richard Machomba, CEO and founder of Flexpay, said:

“Flexpay’s mission is to empower individuals by providing accessible financial solutions that make it easier for them to achieve their financial goals.

“By partnering with BuuPass, we’re making travel more accessible and stress-free for Kenyans, especially during the holiday season when expenses can be overwhelming,” Machomba added.

Founded in 2016 by Kabra and Wyclife Omondi, BuuPass is a B2B2C mobility marketplace that enables users to search, compare, and book travel tickets via web, app, or USSD, while its SaaS platform helps bus operators manage their operations, inventory, and sales.

FlexPay, on the other hand, is an online and offline payment gateway that allows merchants to offer interest-free targeted savings to their customers in Africa.

Tech

DR Congo sues tech giant Apple over illegal mineral exploitation

Published

2 days ago

December 18, 2024

Isaac Dachen

The Democratic Republic of Congo (DRC), has filed a criminal case against the European subsidiaries of tech giant, Apple, accusing them of illegal mineral exploitation and allegedly using “blood minerals” in its supply chain.

In the suit filed on Tuesday, the DRC alleges that Apple has bought contraband supplies from the country’s conflict-ladden east and Rwanda, zones in which it allege the materials are mined illegally and then integrated into global supply chains before ending up in tech devices.

The DRC suit specifically mentioned Apple subsidiaries in France and Belgium, accusing the tech giant of using conflict minerals in its supply chain.

The DRC is a major source of tin, tantalum, and tungsten which are used in electronic devices, with some mines controlled by armed groups responsible for human rights violations.

International lawyers representing the African country’s government have accused Apple’s local subsidiaries of taking these minerals from conflict areas and laundering them through international supply chains, with one lawyer telling journalists that Belgium had a moral duty to act given its history of exploiting the country’s resources under colonial rule.

However, in its response, Apple claims it conducts supplier audits and does not directly source primary minerals.

https://www.thenews.com.pk/print/1262670-dr-congo-sues-apple-over-alleged-illegal-mineral-exploitation