MTN Cameroon: Court Restricted Cash Drops to CFAF 2.34 Billion in 2025

• MTN Cameroon's court-restricted cash decreased to 67 million rand (CFAF 2.34 billion) by December 2025.
• This represents a 52.5% decline from 141 million rand (CFAF 4.93 billion) reported in December 2024.
• Over a two-year period, restricted cash plummeted by 85.8% from 471 million rand (CFAF 16.46 billion) in 2023.
• The restrictions are due to garnishee orders related to ongoing court cases, as stated in MTN Group's 2025 financial statements.
• MTN Group has not disclosed the specific court cases or creditors involved in these legal disputes.

This consistent and significant downward trend suggests either a successful resolution of a number of these legal disputes, or perhaps the effective implementation of legal strategies that have led to the lifting or reduction of these garnishee orders, thereby freeing up a substantial portion of the company's previously encumbered funds.

MTN Cameroon has reported a significant decrease in its cash reserves that are held under restriction due to ongoing court proceedings, as detailed in the MTN Group’s annual financial statements for the fiscal year concluding on December 31, 2025. The total amount of cash categorized as restricted fell to 67 million rand by the end of 2025. This figure marks a substantial reduction from the 141 million rand that was reported in the same category just one year prior, at the close of December 2024.

When converted to the local currency using an indicative exchange rate of CFAF 34.95 per rand, the restricted cash balance for December 2025 amounted to approximately CFAF 2.34 billion. This represents a notable decline from the CFAF 4.93 billion that was held under restriction in December 2024. The financial disclosures further specify that this change reflects a year-on-year decrease of 74 million rand, which signifies a substantial 52.5% reduction in these particular funds tied up in legal matters.

The specific classification of "restricted cash" within MTN Cameroon's financial records is directly attributed to "garnishee orders of ongoing court cases." These garnishee orders are formal legal directives that empower creditors to seize or freeze assets or funds that are in the possession of a third party, acting on behalf of a debtor. In the context of MTN Cameroon, this means that portions of its financial assets have been legally sequestered, likely as a security or settlement for potential or existing liabilities stemming from various legal disputes.

Despite the clear financial impact and the explicit mention of these orders, the MTN Group's official statements do not offer any specific details regarding the particular court cases that led to these restrictions, nor do they identify the creditors who initiated these actions. This absence of granular information means that the precise nature, scope, and parties involved in the underlying legal challenges affecting MTN Cameroon's finances remain undisclosed to the public and stakeholders. The continued presence of such orders underscores the active legal environment in which the company operates.

The observed reduction in MTN Cameroon's court-restricted cash becomes even more striking and indicative of a broader trend when its trajectory is examined over a two-year span. Looking back to 2023, the volume of cash held under restriction due to legal proceedings was considerably higher, reaching 471 million rand. Applying the same indicative exchange rate of CFAF 34.95 per rand, this substantial sum was equivalent to approximately CFAF 16.46 billion at that time.

A direct comparison between the 2023 figure of 471 million rand and the 67 million rand reported at the close of 2025 reveals a profound decrease of 404 million rand. This represents an impressive 85.8% reduction in the total amount of restricted cash over the two-year period. This consistent and significant downward trend suggests either a successful resolution of a number of these legal disputes, or perhaps the effective implementation of legal strategies that have led to the lifting or reduction of these garnishee orders, thereby freeing up a substantial portion of the company's previously encumbered funds.

Lawyers and compliance officers should monitor MTN Cameroon's ongoing legal disputes and the use of garnishee orders, as the significant reduction in restricted cash suggests either successful dispute resolution or effective legal challenges to these orders, which could inform strategies for other companies facing similar actions in Cameroon.

Source: Original reporting via MTN Group financial statements.