MTN makes $125.8million partial payment for Cote d’Ivoire licence

December 16, 2015 in Business, Communications, Companies, Finance, Foreign News, Investment, Technology & Telecoms by Editor

KAMPALA, DECEMBER16 – MTN Côte d’Ivoire has paid 75 billion CFA ($125.8million) to Ivorian authorities in partial payment for a new 17 year telecom operators licence that comes into effect on April 1, 2016.

In a statement issued today, the company says the payment represents 75 percent of the CFA 100 billion ($167.7million) that is due for the licence although the Cote d’Ivoire government required advance payment of just 50 percent of the sum due by December 15, 2015.

“By paying 75percent which is above the required 50percent minimum, MTN obtains the extension of the operating term of the unified license for 17 years, for commissioning all services and products associated to 2G / 3G / 4G / LTE and upcoming new technologies,” the company says.

The CFA F 75 billion cheque was handed over to on 15 December 2015 at 19:30 local time at the premises of Cote d’Ivoire Prime Minister Mr. Daniel Kablan Duncan, who was in attendance alongside Minister of ICT and Postal Services and Government Spokesman Mr. Bruno KONE Nabagné, and CEOs of all operators whose licenses were due for renewal.

MTN Group became a shareholder of Loteny Telecom, now called MTN CI following a change of denomination in December 2005, after the acquisition of the majority stake of the company from SOW Group. MTN CI has more than 65,000 points of sale throughout the country and 8,248,641subscribers as at 30 June 2015.