South African Reserve Bank says MTN's USD 10 bln Nigerian dispute poses risk to SA financial system

Telecom Industry NewsComments are off for this post.

You Are Here:South African Reserve Bank says MTN's USD 10 bln Nigerian dispute poses risk to SA financial system

(Telecompaper) MTN Group’s dispute with Nigerian authorities over USD 10 billion in repatriated funds and back taxes could increase risk in South Africa’s financial system, depending on the outcome, the South African Reserve Bank said, according to Bloomberg. In its Financial Stability Review released in Pretoria, the bank said if MTN eventually repatriates the disputed amount to Nigerian authorities, this could affect its ability to meet its debt obligations, especially in South Africa. 
Source: Industry News (syndicated from Telecompaper.com)

Top