Telecom

DR Congo: Alieu Conteh, holder of 49% of Vodacom demands $14 billion from the firm

Wednesday, 25 November 2015 09:11

(Ecofin Agency) - 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.

On the same topic
The engagement marks a significant step toward deepening U.S.-Ghana digital cooperation, positioning Ghana as a strategic partner in the evolving global...
NIMC says extortion and corruption cases dropped by at least 40% Over 120 million Nigerians enrolled in the national ID database Concerns...
Despite progress in digital development, significant disparities in digital access persist across regions and social groups. Strategic initiatives are...
The Congolese government has launched an online learning platform to teach IT and communication skills to young people, as the youth unemployment rate...
Most Read
01

The African Development Bank has approved a $304 million loan to Botswana to support the southe...

African Development Bank Approves $304 Million Loan to Support Botswana's Fiscal Stability and Economic Reforms 
02

The Economic Community of West African States (ECOWAS) parliamentarians met in Lomé from May 6 to 9,...

ECOWAS Parliament Calls for Airfare Tax Cuts to Make Flying Affordable
03

BRVM and Africa50 signed a deal to create new infrastructure financing tools The plan inclu...

BRVM and Africa50 Partner to Fund Infrastructure in WAEMU
04

Africa’s digital economy is growing rapidly, and the demand for data storage, processing power, and ...

Safaricom and iXAfrica Launch East Africa’s AI-Ready Data Centre Services
05

• Nigeria may reintroduce a 5% tax on data and voice services under 2024 Finance Bill• Operators war...

Nigeria’s Telecom Operators Concerned Over Possible 5% Tax Return
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

Benjamin FLAUX
bf@agenceecofin.com 
Téls: +41 22 301 96 11 
Mob: +41 78 699 13 72
Média kit : Download

EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.