Cameroon's insurance turnover up 12.9%, MTN Nigeria accused of illegal funds transfer

Cameroon’s insurance turnover up 12.9% in 2015

Life insurance is on the rise in Cameroon, although this product represents only 28 % of the insurance market in the country.

Its turnover is more than 182 billion Franc CFA which translates to a growth of 12.94% in 2015.

Jean-David Mihamle and Kenneth Karuri report.

Algeria: Sonatrach wins lawsuit

A landmark ruling by the international court of arbitration has seen Algeria win its lawsuit against Repsol over profit sharing.

The law suit involved the Spanish firm Repsol, which questioned how Algiers retroactively changed the profits sharing of oil and gas.

It alleged that the Algerian state run company was taking advantage of the 2006 agreement to increase taxes on profits made. Micheal Oduor and William Bayiha with the in depth story.

MTN Nigeria: Accused of illegal funds transfer

MTN , Africa’s biggest telecoms company has been accused of repatriating about $14 billion from Nigeria without authorisation.

According to the Senate, MTN smartly beat Nigeria’s financial regulatory laws by failing to obtain a certificate of capital importation, adding that the company exploited what it described as the porous Nigerian financial system by illegally moving the money out of the country.

Ama Kodjo and Narcisse Ndoumbe with more details.