MONROVIA — Lonestar Cell MTN Mobile Money Inc., one of Liberia’s largest mobile money companies, has been slapped with a massive fine of millions of Liberian dollars by the Central Bank of Liberia (CBL), the official regulator of all mobile money operations, for non-compliance with various regulations of the CBL.

In a sternly-worded letter addressed to the CEO of MTN Mobile Money, Mr. Rahul De, (a copy of which is in the possession of FrontPageAfrica), the CBL informed the company that it was being fined because of “continuous violations of CBL’s mobile money regulations and failure to conform to the minimum corporate governance requirements set by the CBL.”

However, rather than paying the fine and complying with the CBL directives, the CEO instead wrote to the CBL and appealed that the fine be waived.  In another letter (a copy of which is also in the possession of FrontPageAfrica), the CBL outrightly rejected the appeal and re-affirmed its directives that the fine be paid immediately and that the company should bring itself into compliance with the CBL regulations.  

The CBL further stated that since MTN Mobile Money became operational, it has been in continuous violation of the CBL regulations.

Through further investigation, FrontPageAfrica has confirmed that the fine has now been paid, but that the company has still not yet complied with the CBL regulations.  In the letter referred to above, the CBL has warned MTN Mobile Money that further failure to comply with the timelines given by the regulator could result in the imposition of additional penalties.

In a related development, FrontPageAfrica has learned that the local Liberian shareholders of MTN Mobile Money have sued the company in the Commercial Court of Liberia for non-compliance with their rights as shareholders.  As this lawsuit is now being litigated, FrontPageAfrica cannot comment further as the matter is now sub judice.

Flouting Government Regulations

This defiant behavior of the South African telecommunications giant in flouting and/or ignoring Government regulations is not limited to Liberia alone.  

They have done so in various West African countries where they operate, resulting in heavy fines and even shutdowns of their offices.   In Nigeria, for example, they have been fined billions of US dollars in recent years.  In October 2015, the regulator slammed MTN with a fine of N1. 04 trillion naira, equivalent to $5.2 billion US dollars at the exchange rate prevailing at the time, following their failure to cut off five million unregistered subscribers after a deadline set by NCC, in agreement with major telcos in the country.

In 2017 in Benin, their refusal to pay the regulatory fees due to the Government of Benin resulted in the expulsion of the MTN Benin CEO, Stephen Blewitt (now CEO of MTN Ghana) from that country.

Similarly, in January of this year Guinea’s Post and Telecommunications Regulatory Authority (ARPT) shut down MTN’s headquarters in Conakry.  According to local media reports, the Guinean regulator accused the mobile operator of non-payment of taxes, fees and license fees. 

Bullying and Marginalization of Local Shareholders

The Pan-African telecommunications giant also has a reputation for bullying and marginalization of local shareholders in various countries where they operate.  These local shareholders are now fighting back, through various litigations and appeals to regulatory authorities for redress and protection.  In Benin in recent years, the local shareholder had his rights trampled over so consistently that he had to bring a lawsuit against MTN in the British High Courts.   

In Cameroons, MTN has shown its unwillingness not only to pay regulatory fees to the Governments under whose licenses it operates, but also has the same attitude towards local contractors and professionals.

It remains to be seen whether the Central Bank of Liberia will allow MTN Liberia to continue to ignore its regulations, which have the force of law in Liberia, and continue to flout the public policy of the Liberian government regarding local content.

Monrovia – Lonestar Cell MTN, Liberia’s pioneering telecommunications company and leading mobile financial services provider, has concluded its inspiring MoMo Charity Week, a five-day event filled with love, laughter, and acts of kindness that have left an indelible mark on the hearts of many.

On Monday, September 18, the Lonestar Cell MTN family embarked on a remarkable journey of compassion, dedicating themselves to making a difference in the lives of orphans and differently abled individuals. The week-long endeavor reached its climax with the heartfelt donations of rice, detergents, and school essentials (book bags, crayons, calculators) and $500 United States dollars each to the 5 organizations visited, a testament to the company’s unwavering commitment to the community.

Day 1 set the tone with a visit to the Group of 77 on Newport Street where the staff of Lonestar Cell MTN spent the day with differently-abled individuals, bonding over activities like braiding and barbing their kids’ hair and sharing heartwarming meals. Mr. Manju Konneh, the project lead, conveyed a heartwarming message on behalf of the CEO of Lonestar Cell MTN, Mr. Rahul De, and the General Manager of Lonestar Cell MTN Mobile Money Incorporated, Mr. Christopher Ssali: “MoMo Waysay Wasa is not complete until every Liberian has benefited from this campaign. At Lonestar Cell MTN, we believe in equal opportunities for all. Therefore, we are here today to donate 15 bags of rice, detergents, toiletries, and $500 United States dollars. We had fun today and hope these items are sufficient to take care of your needs.” Day 2 saw the team visiting the Antoinette Tubman Home on 9th Street, transforming it into a day of colors and conversations. Staff members engaged in heartwarming discussions with the residents and indulged in coloring activities, creating lasting bonds and cherished memories.

On Day 3, the journey extended to the Peter W. Saylon Orphanage in Bong Mines, Kakata, emphasizing the charity week’s commitment to reaching out to the less fortunate beyond Monrovia.

The team was greeted with songs from 67 children, some playing drums, salsa, and more. The day was filled with games, including Freetown ball, kickball, and running races, accompanied by captivating recitations and songs from the kids. Day 4 brought the team to the Frances Gaskin Orphanage in GSA Road, where dancing, playing ball, and sharing a delightful meal created an atmosphere of pure joy.

The grand finale took place on Day 5 at the Phebe Gray Orphanage on the Marshall highway, where 117 children eagerly awaited the MTN team’s arrival. Joining the team was Lonestar Cell MTN MoMo Hero of Change, Mr. Francis Varney, CEO of 4Life Zoe Company, a vocational training institute that equips young people in Liberia with essential life skills. The day was filled with excitement and joy as the children and staff welcomed their guests with open hearts. Sis Rose, the caretaker at Phebe Gray Orphanage, touched the hearts of all present by mentioning that since the school year had begun, no one had come to the aid of the children. The 117 book bags, calculators, and crayons donated by MTN represent more than just school supplies; they are tools to empower these children as future leaders. The day ended with laughter, games of musical chairs, an exhilarating freeze game, and a kickball match where the MTN team emerged victorious.

In total, Lonestar Cell MTN’s unwavering efforts resulted in the generous donation of $2,500 United States dollars, 75 bags of rice, and 295 book bags, complete with crayons, calculators, and notebooks. These contributions have not only met immediate needs but have also sown the seeds of hope and promise in the hearts of those touched by this remarkable initiative. Lonestar Cell MTN remains dedicated to touching lives, nurturing dreams, and creating a brighter future for all. The MoMo Charity Week stands as a shining example of the company’s commitment to making a positive impact on the communities it serves. For more information about Lonestar Cell MTN’s corporate social responsibility initiatives, please visit www.lonestarcell.com.

About the Lonestar Cell MTN Launched in 2001, Lonestar Cell MTN is Liberia’s trusted mobile phone and mobile money operator. Our singular focus is to lead the delivery of a bold, new digital world for our customers. With our reliable country-wide network, partnerships with Liberia’s major banks and over nine thousand Mobile Money agents, Lonestar Cell MTN subscribers can deposit and withdraw cash, pay bills, and pay for services seamlessly. We believe everyone deserves the benefits of a modern and connected life.