Congolese businessman Alieu Conteh who holds 49% of Vodacom shares in DR Congo appealed to the Kinshasa trade court filing a complaint against the telecom firm and its international arm. He claims they plotted to remove him from his position as statutory president of Congolese Wireless Networks (CWN), who holds the minority stakes of Vodacom Congo. Alieu Conteh is claiming a compensation of 197 billion rand ($14 billion).
In a release, Vodacom denied all the accusations of Alieu Conteh in relation to him being removed from his position in CWN.
Tshepo Ramodibe, spokesperson of Vodacom stated that the firm opposed the lawsuit saying: “the $14 billion demanded are non-founded and without merit. The suit will be handled.”
In order to avoid ending up in the same situation as MTN in Nigeria who had recently been fined 5.2 billion USD, Vodacom publicly revealed in the documentation of Johannesburg Stock Exchange that it was facing a lawsuit in DRC.
Telecel Ghana to boost network investment by 150% in 2026 Expansion targets capacity, reliabi...
Togo parliament adopts WAEMU law against currency counterfeiting Bill defines offences including ...
Namibia and Russia agreed to expand cooperation across energy, mining, and agriculture. Both coun...
Cameroon signs MoUs for $1.5 billion waste-to-energy projects Plans target waste treat...
CCR-UEMOA presents mid-term review of private sector competitiveness efforts Reforms, AfCFTA trai...
The Democratic Republic of Congo and Angola will hold their third bilateral economic forum from March 31 to April 3 in Kinshasa. The forum will focus...
Burkina Faso ratified a $80.3 million loan from the African Development Bank to modernize transport infrastructure. The project targets road...
The European Union launched PanAfGeo+ Invest to promote EU investments in critical minerals across Africa. The program targets Democratic Republic of...
Tshisekedi orders Grand Inga agreements finalized within 60 days Government to adopt legal framework to unlock World Bank support Inga 3...
Kumbi Saleh is regarded as one of the earliest major political and commercial capitals of West Africa. Located in present-day Mauritania, near the border...
Event highlights growing role of diaspora entrepreneurs across multiple sectors Networks support trade, investment and SME...