Facebook has disclosed that it could owe billions due to an IRS investigation into the way it moved assets to an Irish subsidiary to avoid higher taxes.

The tax issue was first disclosed publicly three weeks ago when the U.S. Justice Department filed a lawsuit forcing Facebook to comply with the ongoing IRS investigation. No figures were provided at the time for possible penalties.

The investigation dates back to 2010 when Facebook shifted the rights for its worldwide business, excluding the U.S. and Canada, to Facebook Ireland as part of a complex maneuver to reduce its tax payments.

That transfer included certain hard to quantify assets like its “user base, online platform and marketing intangibles.”

MTN has appointed  Citigroup and Standard Bank  as advisers on a planned listing in the Nigerian local stock exchange. This is largely to fulfill part of the deal to settle a record fine.

Africa’s biggest mobile-phone operator is targeting a listing of the Nigeria unit in 2017, “subject to suitable market conditions,” the Johannesburg-based company said in a statement on Thursday. Stanbic IBTC Capital, the Nigerian arm of Johannesburg-based Standard Bank, will be the lead issuing house, while a full syndicate including Nigerian parties will be appointed in due course.

Orange Money has 19 million customers and one billion euros of transactions in one month

Orange Money is part of the Group’s ambition to strategically diversify around mobile financial services. With more than 19 million clients (+36% year on year), Orange Money is growing. It exceeded one billion euros of transactions in June 2016. It has recorded around 50% growth in revenue in the first half 2016 compared to first half 2015.

Orange Money is not in Nigeria as the network does not operate in the country.

The French Tech Ticket is a program designed for entrepreneurs from all over the world who want to create their startups in France.

It is a one year program by the French government to attract gifted and ambitious individuals from all around the world and help them set up and develop their startup in France.
More than just a startup visa, this 12-month program offers end to end support on the journey from early stage start-up to successful business – from financial support and training to first customer acquisition.
Selected entrepreneurs and projects will work closely in one of the 41 top French partner incubators providing among others mentoring, fundraising strategy, expert advice and pitch practice.

In January 2017, 70 teams will be selected and welcomed to France to start the program.

Those who join the program will receive various benefits which include:

Across Africa, banking is being redesigned. Technology has emerged as a competitive weapon in driving operational excellence and superior service quality. While the banks compete among themselves, they face existential threats from amalgam of entities, not necessarily possessing bank licenses.

Continue reading at HBR.