Global Voice Group (GVG), an ICT and telecoms solutions provider, won its case against the State of Guinea for wrongful termination of contract. The International Court of Arbitration of the International Chamber of Commerce of Paris has ordered the country to pay $20 million to the company as compensation for the damage suffered. The decision follows the complaint filed by GVG since December 8, 2016.
In May 2009, the French Post and Telecommunications Regulatory Authority (ARPT) signed a contract with the GVG group to provide the institution with adequate technical resources to control and tax incoming international and national calls, fight fraud, control the frequency spectrum, etc.
But in 2014, the telecoms regulator stopped paying Global Voice Group, claiming acts of corruption, fraud and results that fell short of international expectations and standards.
At the time of its complaint, GVG claimed the sum of $106,558,720 for unpaid debts and wrongful termination of the partnership agreement.
With their lawyer, Hughes Hubbard & Reed LLP, the Republic of Guinea and ARPT intend in the coming days to bring an action for annulment of the arbitral award before the Paris Court of Appeal and, if necessary, before the French Court of Cassation.
(MCB) - The Mauritius Commercial Bank Limited (“MCB”) has successfully granted a strategic financing...
S&P upgrades Zambia to CCC+ as debt talks advance and copper output rebounds. About 94% of $...
MTN Innovation Lab hosts Africa HealthTech Export 2025 Bootcamp in Cotonou Event targets s...
Attack risks internet disruptions; investigation launched near Massakory EU-funded project aims ...
Public Eye claims over 90% of Cerelac samples in Africa contain added sugar, averaging 6 g per por...
UK unveils £50M plan to secure critical minerals supply by 2035 Strategy includes partnerships abroad, with focus on Africa's mineral potential UK...
Senegal, BOAD launch Fovas to monetize public infrastructure assets Fund aims to boost financing without IMF-recommended debt restructuring Eligible...
Guinea-Bissau holds presidential, legislative elections amid political fragility President Embaló seeks second term; 65% voter turnout reported IMF...
U.S. Exim to unlock $100B for critical minerals, gas, nuclear projects Egypt gets $4B credit guarantee to secure U.S. gas amid output...
Hidden deep within the Arabuko-Sokoke Forest on Kenya’s coast near Malindi, the ancient city of Gedi stands as one of East Africa’s most intriguing...
Orange Egypt and Qatar’s Qilaa International Group have partnered to develop WTOUR, a digital platform offering trip planning, hotel bookings, local...