BUSINESS POLITICS
Benin lets MTN chief return
The West African state allows Stephen Blewett to return after reaching an agreement on frequency fees
MTN’s CEO for Benin, Stephen Blewett, has been allowed to return to his post after being essentially exiled from the West African country for half a year. The government of Benin "has allowed Blewett to return … following the recent agreement over frequency fees", an MTN representative, who asked not to be named, told Business Day. "Blewett has returned to his original position as CEO of MTN Benin … MTN is pleased that a resolution of this matter has been possible," the person said. In November 2017, Blewett was told to leave the country after MTN refused to meet the government’s demands that it pay frequency fees for 2016 and 2017 worth $213m. After months of negotiations, MTN Group CEO Rob Shuter said in early May the company had agreed to pay fees of $126m while also extending its licence by five years. The group has had to appease regulators in other regional markets. Following a sizeable fine in Nigeria, MTN plans to list its business there in 2018. Nigerian Stock Exchange (NSE...
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