MTN Group, Africa's largest mobile network operator, following the apparent resolution of its tax dispute with the Ghanaian government, announced on Wednesday, February 15, 2022, that it will invest $1 billion in Ghana over the five next few years.

The tax claim was issued after the tax authority audited the company for the years 2014 to 2018. The authority had claimed that MTN underreported its income by around 30% during the period. Thus, the group declared over time out of discontent that “MTN Ghana believes that the taxes due have been paid during the evaluation period and has decided to defend MTN Ghana's position on the assessment.”

Also, in late January, South Africa's Foreign Affairs Minister, Naledi Pandor, called on MTN Group and the Ghana Revenue Authority to find a solution to the multi-million dollar tax dispute. This led the government to exempt MTN Ghana from tax claims worth around 773 million dollars. The investment will mainly go into 5G technology, which MTN says could stimulate faster growth in a number of sectors.