BABA DANPULLO /MTN CAMEROON : MTN Speaks out Amid Tensions with Businessman and South African Subsidiaries
The General Manager of MTN Cameroon, Mitwa Ng’ambi, affirms that the dispute between Ahmadou Baba Danpoullo and the Fnb bank, being of a private nature, does not concern MTN Cameroon, whose accounts have been seized for 10 months. This was during a press conference granted on June 15 at the company’s headquarters in Akwa, Littoral region.
With more than 12 million active subscribers, 5 million Mobile money customers, 800 direct employees, 200,000 indirect employees, and a turnover of 256.86 billion FCFA in 2022, Mtn Cameroon is mired in a crisis with the Bestinver group of billionaire Ahmadou Baba Danpoullo. The MTN Cameroon staff says they will continue to sensitize the authorities for a quick exit from the crisis.
During the press conference, the Director General of the mobile network company sheds light on company’s situation since the sanctions places on her in September 2022 and to enlighten the opinion on the legal-financial conflict that opposes it to the Bestinver group, of the Cameroonian billionaire Ahmadou Baba Danpoullo. Indeed, since September 2022, the businessman, the Court of first instance of Bonanjo seized the accounts of MTN Cameroon and CHOCOCAM (Chocolate Factory of Cameroon), a subsidiary of the South African Tiger Brand group. On June 19 2022, The First National Bank (Fnb), seized the real estate of Ahmadou Baba Danpoullo for insolvency after his Bestinver group was credited 22 billion FCFA.
MTN strongly contests the seizure of its bank accounts, which it considers abusive, fraudulent and unacceptable given that MTN CAMEROON has no relationship with BESTINVER and its South African banker”, supports the company in a statement distributed to the press.
“Our shareholding has nothing to do with the bankers of Bestinver,” clarifies Mitwa Ng’ambi. As a result, the representatives of MTN brush aside the claims that the South African entity Public Investment Corporation, presented as one of the shareholders of the banker with whom Baba Danpullo is in conflict, would also be the majority shareholder of MTN Cameroon. MTN Cameroon’s statement is clear on this subject : “Firstly, and contrary to what is alleged, neither the banker of BESTINVER, nor the PUBLIC INVESTMENT CORPORATION are shareholders of MTN CAMEROON. The composition of MTN CAMEROON’s shareholding is public knowledge and has been available for several years at the registry of the Court of First Instance of Douala-Bonanjo, where MTN CAMEROON SA is legally incorporated. Secondly, we consider that the commercial dispute between BESTINVER and its South African Banker is a private matter between them and we do not see how MTN CAMEROON can be involved in this matter. We have obtained the South African court records relating to the BESTINVER case and MTN is in no way connected with the legal proceedings in South Africa”, concludes MTN Cameroon’s Director General.
Recall that Ahmadou Baba Danpoullo intends to obtain an amount of 259 billion FCFA, at the end of the ongoing actions, against these South African subsidiaries in Cameroon, provided with 5 orders from the court of first instance of Bonanjo. Despite everything, MTN maintains confidence in the judicial system. The company intends to “use all possible legal means to thwart the robbery maneuvers currently in progress”. MTN believes in fact that it has the right, “like all litigants, to fair, equitable and impartial justice”.
Sorelle Ninguem
