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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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Nigerian Journalists Recount Experiences @QNET’s 2024 V-Convention

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The 2024 V-Convention held in Penang, Malaysia has come and gone but its sights and sounds is still reverberating as Nigerian Journalists who had the rare opportunity of attending the event shared their experiences and the immense opportunities QNET is providing to people through direct selling.

The event, which brought together over 8,000 participants from 30 countries, showcased the global reach and cross-border partnerships, which are crucial for direct selling businesses to thrive, particularly in emerging markets like Nigeria.

While speaking at the 2nd VCON 2024 Media Experience webinar on Thursday, the two journalists that witnessed the event shared their personal experiences, insights and take away from the convention in Penang, Malaysia.

Recounting his experience at the event, Sulaiman Aledeh, A TV journalist with Arise, described the experience as thrilling. “The V-Convention was more than a business event,” he remarked.

“It was a gathering of individuals united by their passion for personal growth, entrepreneurship, and wellness. The energy and enthusiasm were unmistakable, and it was inspiring to witness so many people coming together to support one another’s goals.”

He further highlighted QNET’s business strategies while lauding their efforts in supporting education and law enforcement partnerships.

Aledeh added, “One of the things that struck me most about the V-Convention was the sense of community and camaraderie among the attendees. Everyone was there to learn, grow, and support each other, and it created a truly inspiring atmosphere.”

Peter Oluka, Editor of TechEconomy and another attendee of VCON 2004, echoed similar sentiments, describing the event as more than just a business convention.

For him, the gathering of entrepreneurs from diverse backgrounds created a powerful network of like-minded individuals passionate about innovation and entrepreneurship.

He was particularly impressed by QNET’s focus on environmentally friendly products, signaling that the direct selling industry has much to offer in terms of sustainable development.

He praised the diversity of the attendees, the informative workshops, and the focus on innovation and sustainability, and highlighted the opportunity to explore Penang and experience Malaysian culture.

According to Oluka, “The V-Convention was a life-changing experience for me. It opened my eyes to the possibilities of direct selling and entrepreneurship, and I am now more motivated than ever to pursue my own business goals.”

Earlier, Theodocia Quartey, QNET’s Senior Legal Counsel for Sub-Saharan Africa, highlighted the importance of the VCON media webinar, noting that “The event offered participants a chance to expand their product knowledge, interact with experts, and take advantage of vibrant networking opportunities. It reflects QNET’s steadfast commitment to innovation and sustainability.”

“Twice yearly, we brings together a diverse assembly of marketing professionals, experienced business leaders, and global entrepreneurs associated with the QI Group’s flagship business in Penang, Malaysia.

“During V-Conventions, QNET extends invitations to selected journalists from media outlets in Nigeria to experience this important event.

“The just-concluded V-Convention in September 2024 brought together over 8,000 attendees from over 30 countries. The theme of the event was “Unstoppable,” emphasizing QNET’s unwavering commitment to innovation and sustainability.

“V-Convention continues to provide a platform to empower individuals and communities worldwide and champion innovation and sustainability through deepening product knowledge, engaging with experts, and experiencing dynamic demonstrations.

“Attendees benefit from business training sessions, motivational speeches, and product exhibitions, providing them with invaluable personal and professional growth opportunities”.

Mr. Akeem Ajisafe, Managing Director of Transblue Limited, QNET’s legal partner in Nigeria, emphasized the significant potential of the direct selling industry for Nigerian entrepreneurs during the second VCON 2024 Media Experience sharing webinar.

Ajisafe emphasized the importance of direct selling as a path to personal and financial empowerment, and pointed out the industry’s rapid expansion, with the global market expected to reach $204.89 billion by 2032.

“Direct selling provides entrepreneurs with a unique opportunity to harness their skills and build successful businesses with minimal investment,” he stated.

Ajisafe also discussed the misconceptions about direct selling in Nigeria, stressing the need to differentiate between legitimate direct selling companies and pyramid schemes. “QNET is dedicated to ethical practices and transparency,” he affirmed.

“We are working to educate the public about the benefits of direct selling and to dispel negative stereotypes. We believe that Nigeria has a bright future in the direct selling industry. By embracing this model, entrepreneurs can create jobs, generate wealth, and contribute to the country’s economic growth.”

 

 


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MTN Nigeria Expands Digital Offerings with Audiomack+ Music Subscription

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MTN Nigeria, a leading ICT company, has partnered with Audiomack, a renowned music streaming platform, to introduce the Audiomack+ subscription program.

This strategic collaboration provides MTN subscribers with seamless access to premium Audiomack content, uninterrupted streaming, offline downloads, and exclusive features through convenient mobile payment options.

Audiomack+ offers three flexible subscription plans, enabling subscribers to discover emerging artists, underground music, and community-driven playlists. Music lovers can enjoy, Month Pass (N900/month): 30-day free trial + uninterrupted streaming, Week Pass (N400/week): Affordable weekly subscription and Day Pass (N100/day): Daily access to premium content.

“This partnership with Audiomack reinforces our commitment to delivering value-added services to our customers,” said A’isha Mumuni, Chief Digital Officer of MTN Nigeria.

“We’re excited to offer our subscribers an easy and affordable way to access premium music content, empowering them to explore new music and support their favorite artists.”

David Ponte, Audiomack Co-Founder and CMO, added, “Our partnership with MTN Nigeria brings us closer to making music accessible to everyone.

“With Audiomack+, we’re proud to offer affordable premium streaming options, providing users in Nigeria with the best music experience possible.”

To subscribe to the Audiomack+ monthly plan, text APM to 3134 or visit Audiomack+ Month Pass. Alternatively, customers can text APW to 3134 or text APD to 3134 for weekly or daily subscriptions.

Through its strategic partnership with music streaming platforms, MTN Nigeria reinforces its commitment to providing enhanced and innovative digital experiences to customers.


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Elon Musk’s X Slammed with $418,000 Fine in Australia for Failing to Provide Child Protection Data

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An Australian court has upheld a decision requiring X, formerly known as Twitter, to pay A$610,500 ($418,000) fine after failing to cooperate with a request from the nation’s eSafety Commissioner.

The request was for detailed information about the platform’s efforts to tackle child sexual exploitation material.

X initially contested the fine, arguing that a corporate restructuring in 2022, when Elon Musk took Twitter private and merged it into a new entity, freed the company from having to comply with the request issued in early 2023. However, the Federal Court of Australia disagreed, ruling that the platform was still bound to provide the information.

Julie Inman Grant, the eSafety Commissioner, noted that if accepted, it could have set a dangerous precedent. She stated that such corporate mergers could allow international companies to sidestep regulatory obligations in Australia, undermining internet safety efforts.

The penalty relates to a current inquiry into how tech companies, including X, are managing harmful content, particularly involving child protection. The eSafety Commissioner had requested specific details on the platform’s anti-child abuse strategies, which X failed to provide. In addition to the fine, civil proceedings have also been initiated against the company due to its noncompliance.

Musk’s X has faced previous clashes with the Australian internet safety regulator. Earlier this year, the eSafety office ordered the platform to remove content showing a violent incident involving a bishop being attacked during a sermon.

X challenged that directive, arguing that regulators in one nation should not dictate what content is visible worldwide. The Australian regulator eventually dropped the case, and X kept the posts online. Musk criticised the order, labelling it as an act of censorship and linked it to a larger agenda by international bodies like the World Economic Forum.

This latest legal setback adds to Musk’s growing list of challenges in managing the platform since his takeover, particularly as it continues to face questions from regulators around the world.


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