Cameroon: ART to audit MTN, Orange and Nexttel revenues

Posted the 11/11/2019 18:20

Until 9 December, audit firms operating on the Cameroonian market can submit a bid for the call for expressions of interest launched by the Telecommunications Regulatory Agency (ART) to audit the revenues of the telecom operators MTN, Orange and Nexttel.

Their financial statements for the last four years, from 2015 to 2018, will be scrutinized to verify the authenticity of the financial data transmitted by each to the ART.

According to media reports, MTN Cameroon had a turnover of 212 billion CFA francs in 2018. For this year alone, its royalty to be paid to ART should amount to 9.54 billion CFAF, or about 14.6 million euros.

Orange Cameroon reported 194.8 billion CFA francs in consolidated revenues, or about 297 million euros. Its annual fee to ART is 8.66 billion CFA francs, or nearly 13.2 million euros.

Nexttel, the smallest in the Cameroonian telecom market and the subject of a dispute between its owners, achieved a turnover of 71.8 billion CFA francs in 2017, or about 109.6 million euros. Its annual fee is 3.2 billion CFA francs, nearly 4.9 million euros, reports several media.

Source: Digital Business Africa