MTN Says It Will Settle Its Fine In Rwanda In A Few Months

MTN Group has announced that they will be able to pay the fine issued to their subsidiary in Rwanda in the next few months. This is apparently after MTN reached an agreement with the Rwanda Utilities Regulatory Authority (RURA) to pay the fine imposed on the telco in May 2017 for "non-compliance with license obligations" by hosting its IT services outside the country.

MTN Group's subsidiary in Rwanda is said to have not complied with directives issued by RURA prohibiting inclusion of MTN Rwanda in MTN South and East Africa (SEA) IT services hub based in Uganda. MTN does this in order to offer shared IT supported services for coubtry's which it sees as not yet large enough to have their own in-country IT services hub.

The announcement regarding the RURA fine was made by MTN Group during its announcement of interim financial results for the six months ended June 2017.

MTN Group's results for the six months ending June 2017 indicate 6.7% rise in group revenues.

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