(Ecofin Agency) - The court's decision to release MTN Cameroon's seized assets is a crucial development that not only safeguards the company's operational stability but also reinforces the importance of equitable legal processes in supporting a conducive business environment.

MTN Cameroon announced on March 31 that the Littoral Court of Appeal in Douala had lifted a garnishee order that had frozen its bank accounts since September 2022, Reuters reported on April 2.

“We welcome this decision affirming the legitimacy of our defense and restoring our rights,” MTN Cameroon said in a statement. The company also expressed gratitude to its customers and partners for their trust throughout the ordeal.

The court ruled unanimously on February 24, 2025, that Bestinver Group, owned by business tycoon Ahmadou Baba Danpullo, had no right to impose the asset seizure. MTN Cameroon received the final order in March, officially restoring its access to over $23 million in funds.

MTN had long contested the garnishment, calling it "abusive, fraudulent, and unacceptable," as it was unrelated to the company’s operations. The dispute stemmed from a legal battle in South Africa between Danpullo’s Bestinver Holdings and First National Bank (FNB), which liquidated his real estate portfolio after he defaulted on a R507 million debt. In retaliation, Danpullo sought court orders in Cameroon, claiming MTN was linked to FNB through the Public Investment Corporation—a claim the telecom firm strongly denied.

This case highlights the complexities multinational corporations can face when geopolitical and cross-border legal issues intersect. The resolution in favor of MTN Cameroon may bolster investor confidence in the Cameroonian market, demonstrating the judiciary's capacity to adjudicate complex disputes impartially. Moreover, it sets a precedent regarding the treatment of foreign companies in domestic legal disputes, emphasizing the need for clear legal protections to ensure business continuity.

Hikmatu Bilali