Cameroon Court Orders Release of MTN's Seized $23 Million Accounts

MTN Cameroon has won a significant legal victory as a Cameroonian appeals court ordered the release of its bank accounts that had been frozen since September 2022 due to a loan dispute involving local businessman Ahmadou Baba Danpullo and South Africa's First National Bank (FNB). The frozen amount, approximately $23.20 million (14 billion CFA francs), was part of a garnishee order related to Danpullo's retaliatory legal actions following the liquidation of his properties by FNB. The court ruled on February 24, 2025, that the claims made by Danpullo's Bestinver Group against MTN were unlawful, thus restoring the telecom's access to its funds. Despite this ruling, Danpullo's legal team indicated intentions to pursue further actions to seize MTN's assets. This case highlights the ongoing challenges faced by multinational companies like MTN in navigating complex legal and regulatory environments in Central Africa. The outcome is crucial for MTN, which serves around 15 million users in Cameroon and aims to stabilize its operations amidst such legal hurdles.