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MTN Pays $3.3Bn Tax across 19 Markets in 2023

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MTN Group recently released financial tax report for 2023 revealed that the group paid $3.3 billion in tax contributions across 19 markets.

MTN Pays $3.3Bn Tax across 19 Markets in 2023

This is coming as the company inches closer to celebrate its 30th anniversary next month.

As per ITweb reports, Tsholo Molefe, group chief financial officer, underlined that the company makes “impactful socio-economic contributions” to society through an evolving tax environment across the world and in Africa.

“These represent significant contributions to the fiscus of the jurisdictions in which we operate. These contributions are used to grow and enhance economic development in our various markets. We are very pleased to play our part in supporting Africa’s progress, and giving Africans hope, dignity and opportunity. Beyond the continent’s borders, the tax landscape continues to evolve,” said Molefe.

She acknowledged that faced with reduced fiscal revenues and the need for greater public spending to support economic activity, many African governments have sought new ways to generate revenue, among them broadening the tax base and increasing tax types and rates.

“We recognise the important role our tax contributions play in uplifting communities across our footprint. Our voluntary Tax Report is an effort to explain our tax affairs in a comprehensive and transparent way, thereby underpinning the trust of our many stakeholders,” said Molefe.

MTN’s corporate social investment is realised annually through various Corporate Social Investment (CSI) Foundations and divisions across their footprint ensuring that the Group reaches the most vulnerable, marginalized communities and members of society.

“In supporting the attainment of sustainable societies across our markets, we take seriously our responsibility to be a compliant and transparent taxpayer,” added Molefe.

She said MTN is committed to leveraging its core capabilities to enable the socio-economic development of the communities in which it operates, underpinned by the Group’s core belief that everyone deserves the benefits of a modern, connected life.

The mobile giant says its corporate social investment strategy aligns to this belief by focusing its core initiatives on digital jobs creation.

This, she said, allows MTN to address the digital skills shortage in Africa while simultaneously creating opportunities for economic growth through ICT-enabled programmes, including its flagship MTN Skills Academy platform.

According to the MTN Tax Report, a secondary focus area aligns to the National Priority Areas (NPA) of the respective host countries and disaster relief projects in times of crisis.

 

“Through these ICT-enabled and NPA programmes, we continue to serve and support the communities in which we operate, growing our impact year-on-year. In 2023, MTN’s generic corporate social investment totaled R220 million. This investment impacted the lives of 3.6 million members of our communities, 2.9 of which were youth, as the largest and most impacted population group across our markets,” said Molefe.

Furthermore, 126.2 million women and young girls were empowered. MTN programmes allowed young people to engage in activities to grow their knowledge, access education, learn new skills, and develop through a diverse range of uplifting activities.

Operating in 19 markets, MTN says it has tight measures in place that manages its tax affairs which are directly relevant to its shareholders and other internal and external stakeholders.

The measures, the company said, do not only mitigate risk but also ensure that society fully benefits from the economic participation of the MTN Group in their jurisdictions.


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Konga Announces Mid-Year Shopping Festival

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Konga, Nigeria’s leading e-commerce giant, is thrilled to announce the third edition of its highly anticipated Mid-Year Shopping Festival. This epic sales campaign, which runs from June 1st through July 31st, 2024, offers two months of intense price slashes across all product categories. It promises to be the biggest discount sale in the first half of the year, rivaled only by Konga’s legendary Black Friday extravaganza, Yakata.

This year’s Mid-Year Shopping Festival holds even greater significance, as it coincides with Konga’s 13th anniversary. To celebrate this milestone and reward loyal customers, Konga has pledged massive discounts on a staggering range of products.

Partnering with renowned global brands such as Apple, Samsung, HP, Lenovo, Starlink, L’Oreal, Haier Thermocool, LG, Nestle, and others, Konga is offering shoppers genuine products at irresistible prices. The e-commerce giant has pledged massive discounts across all categories and products, including Fast Moving Consumer Goods (FMCG), Home and Kitchen Appliances, Electronics, Computing, Mobile Phones, Wine & Spirits, Fashion, and much more. Whether for personal use or bulk purchases, Konga’s Mid-Year Shopping Festival presents an opportunity for customers to make significant savings on their favorite products.

“We are incredibly excited to kick off our Mid-Year Shopping Festival and celebrate Konga’s 13th anniversary with our esteemed customers,” said Kunle Ajani, Head of Marketing at Konga. “At Konga, we are dedicated to providing our customers with genuine products at unbeatable prices. It is our way of saying thank you for your unwavering support over the years.”

In addition to the massive discounts, the Mid-Year Shopping Festival will feature exciting events such as Flash Sales, Treasure Hunts, and Live Auctions on specific campaign days. These events offer customers the opportunity to snag incredible deals and win exclusive prizes while enjoying the thrill of the shopping experience. Furthermore, Konga is extending special deals to walk-in customers at Konga stores, providing another avenue for shoppers to access exclusive discounts and savings.

Adding to the excitement, Konga will launch its revolutionary delivery solution, KongaNow, which enhances customers’ overall shopping experience through free same-day delivery in the major cities in Nigeria. This novel delivery service is set to redefine the standards of e-commerce by providing efficient delivery and ensuring that customers receive their orders promptly. Konga’s dedication to providing top-quality products, exceptional service, and unmatched discounts reflects its unwavering commitment to ensuring that customers receive maximum value for their purchases.

“We understand the importance of providing our customers with a seamless and enjoyable shopping experience,” said Mr. Ajani. “That’s why we’re thrilled to introduce KongaNow, our innovative delivery solution that offers free same-day delivery. With KongaNow, shoppers can enjoy the convenience of receiving their orders on the same day, completely free of charge.”

The excitement extends beyond the shopping experience! KongaPay, a member of the Konga Group, adds to what shoppers gain during the Mid-Year Shopping Festival. Enjoy the convenience of free transfers to any bank account within Nigeria while making your Konga purchases. Additionally, get rewarded for taking care of your everyday needs. For every airtime/cable TV/data/utility bill payment made using KongaPay, you’ll receive a 5% cash back (capped at N500). This empowers you to save even more while managing your essential bills conveniently.

June is already shaping up to be the hottest month for deals and discounts, courtesy of Konga’s latest promotional blitz. During the Mid-Year Shopping Festival, you can confidently purchase genuine products from reputable brands. This commitment to authenticity ensures you get the quality and performance you deserve for your hard-earned money.


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Glo, Airtel Missing as MTN is Named Most Admired African Brand @Brand Africa 100

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MTN Group has been named the most admired African brand in the newly released Brand Africa 100: Best Brands report for 2024. This recognition marks the tenth consecutive year that MTN has held this position. The report highlights MTN’s commitment to “doing good for society, people, and environment” through its Environmental, Social, and Governance efforts.

MTN’s work in various sectors, including education, health, sports, and more, has significantly contributed to the growth of these industries. In Nigeria, the MTN Foundation invested ₦2.5 billion in 2023 across several Corporate Social Investment projects, impacting over 58,000 individuals, 15,000 small businesses, and 65 schools. Over the past 20 years, the MTN Foundation has committed NGN28.2 Billion in Corporate Social Responsibility (CSR) across Nigeria’s communities.

In sports, MTN has demonstrated its dedication to supporting development, from sponsoring the Super Eagles at AFCON 2023 to investing in grassroots athletics programs like the MTN CHAMPS tournament. Additionally, MTN Nigeria recently became the first technology company in Africa to receive the Economic Dividends for Gender Equality (EDGE) MOVE certification.

MTN Group President and CEO, Ralph Mupita, expressed appreciation for the recognition, stating, “MTN is committed to meeting our customers’ current and future needs, leveraging digital capabilities for a more sustainable future, and fostering strong partnerships to drive meaningful change. These awards inspire us to keep focused.”

The report also noted that while international brands like Nike, Adidas, Samsung, Coca Cola, and Apple have retained their positions as the top five admired brands for the fifth consecutive year, MTN has solidly maintained its position as one of the most admired African brands for ten consecutive years.


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NCC Directs Telcos to Audit Billings to Address Data Depletion Complaints

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Nigerian Communication Commission (NCC) has said that mobile network operators (MNOs) have been directed to audit their billing systems, to address consumer complaints about data depletion.

NCC Directs Telcos to Audit Billings to Address Data Depletion Complaints

The commission made this known in a statement on Friday.

“Quality of experience takes into account all touch points along the consumers’ journey in using telecom services from selection, through onboarding, usage, support and even off-boarding,” NCC said.

“This means that consumers are empowered to make the right network selection, enjoy a seamless onboarding into the network of their choice, enjoy quality service at fair costs, receive responsive customer service and enjoy protected off-boarding where they choose to leave the ntwork.

“To address consumer complaints on data depletion, the commission has directed mobile network operators (MNOs) to conduct an independent audit of their billing systems and is concluding a consultation process to simplify tariff plans.

“These initiatives would provide enhanced transparency to the consumer.”

elsewhere, the NCC said it is committed to tackling industry debt issues more seriously.

The commission said it has also embarked on critical advocacy initiatives to address long-term challenges in the sector, “including advocacy for designating telecom infrastructure as critical national infrastructure, as well as successfully persuading over six states to waive right of way (RoW) fees, even as he initiates discussions with more states”.

NCC said engagement is ongoing with the presidential committee on fiscal policy and tax reforms towards addressing multiple taxation issues in the telecoms sector.

 


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