MTN insists it is in no way involved in the case being built against the former owner of Areeba Ghana, Scancom, concerning allegations of international money laundering, tax evasion and balance sheet fraud. Scancom was previously owned by Investcom, which MTN later acquired.
The mobile operator also alleges it is being prosecuted by the media through reports that mistakenly link its name to the corruption issue.
This follows a report by Fin24 that the mobile operator was implicated in rumours that Scancom Ghana smuggled millions of dollars out of Ghana.
Serious allegations were made over Scancom`s financial operations and the circumstances surrounding MTN`s takeover, the report says.
Last year MTN acquired Areeba Ghana, later renamed MTN Ghana, as part of its takeover of Lebanon-based Investcom. The mobile operator paid $5.5 billion for Investcom, which had a presence in 11 countries in the Middle East and Africa, including Ghana.
MTN spokesman Pearl Majola says the fraud allegations should be dealt with by the former Scancom shareholders and MTN should not be involved in the issue at all. "It`s not MTN`s issue and the people involved should speak for themselves, not involve MTN."
She adds that MTN`s purchase of the company followed due diligence processes, and all financial obligations were met in the transaction. As a result, all monies that the anti-corruption unit of Ghana would like to see returned have no implications for MTN, she says.
Reclaiming funds
Fin24 reports that Ghana`s anti-corruption office has requested that the government institute rules whereby eight billion Ghanaian cedi (about R5.8 billion) be claimed back from Scancom.
This amounts to about one-sixth of Ghana`s budget this year, the report says.
The anti-corruption unit also suggests that approximately R58 million, which Scancom is alleged to have acquired illegally, be reclaimed, and dividends worth R199 million be paid back.
Scancom must also return approximately R144 million to Ghana, with additional dividends worth R4.4 billion also paid back.
Easy target?
BMI-TechKnowledge senior analyst Richard Hurst previously noted that MTN could become a handy target in Africa because of its success on the continent.
MTN was recently forced to pay an undisclosed amount in new licence fees to the Benin regulator, following allegations that the renaming of MTN was not procedurally correct and the company should be re-licensed.
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