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MTN unfreezes $23 million as court rules against Cameroon's richest man

Summary by Billionaires.Africa
Key PointsMTN Cameroon wins appeal overturning FCFA 14 billion freeze, ending garnishee order tied to billionaire Baba Ahmadou Danpullo’s legal dispute with FNB.The ruling marks a setback for Cameroon’s richest man in his fight against South Africa’s First National Bank, which dragged MTN into the case.MTN Cameroon raised $151.8 million in loans in early 2023 to stay afloat, shifting from debt-free to $21.6 million in net debt by midyear.Cameroo…
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MTN unfreezes $23 million as court rules against Cameroon's richest man

Key PointsMTN Cameroon wins appeal overturning FCFA 14 billion freeze, ending garnishee order tied to billionaire Baba Ahmadou Danpullo’s legal dispute with FNB.The ruling marks a setback for Cameroon’s richest man in his fight against South Africa’s First National Bank, which dragged MTN into the case.MTN Cameroon raised $151.8 million in loans in early 2023 to stay afloat, shifting from debt-free to $21.6 million in net debt by midyear.Cameroo…

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Billionaires.Africa broke the news in on Friday, April 4, 2025.
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