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Uganda Report
Marcopolis presents the Uganda Report focused on topics such as economy, investments and doing business, featuring interviews with Uganda's leaders. The sectors under review in this issue are agriculture & agribusiness, health & pharma, hospitality & tourism, industry, insurance, mining & petroleum, services and many more.
StoriesJune 16, 2020
Charles Mbire Confirms MTN Uganda sh380b Payment for the Renewal of its 12 Years Licence
- Written by Sandra Francisco
- Published: June 16, 2020
On Friday June 12, 2020, MTN Uganda completed the payment of sh380b ($100m) for the renewal of its licence, which expired in October 2018. The new license will become operational on July 1st, 2020, and will run until 2032, after which MTN will then have full geographical access coverage of Uganda. The company will also be able to improve the quality of telecommunication services and boost investment in the sector for both existing and new telecom operators.
The telecommunications company deposited $50m in the UCC (Uganda Communications Commission) as part of the balance after months of controversy surrounding the payment of the license fee. Peter Ogwang, Minister of State for Information, Communication Technology and National Guidance in the Ugandan Cabinet, confirmed that MTN had reached a deal with the Government to pay $100m and float 20% of its capital on the Uganda Securities Exchange within the next four to five years, in order to enable Ugandans acquire shares in the telecom giant. "The amount was meant to be paid in two instalments of $50m. The first was expected on March 15, 2020, and that was deposited. It is good to learn they have made the second deposit", he said.
Charles Mbire, the Chairman of MTN Uganda, confirmed the payment, adding one of the key focuses of the company was to be completely transparent. He also said that the telecommunications company adhered to President Museveni's directive and thanked the President, the Government and UCC for trusting them and giving MTN the opportunity to keep serving Uganda. "We promise to stay as a good corporate citizen and join hands in the development of the country", Charles Mbire said.
About MTN Uganda: MTN Uganda is the largest telecom company in Uganda. The premium telecommunications network provider offers a wide range of products and services including cell phone deals, Internet, voice and data bundles, mobile money services, etc. MTN Uganda is a subsidiary of MTN Group, a multinational telecommunications group connecting approximately 232 million people in 22 countries across Africa and the Middle East.
About Charles Mbire: Charles Mbire is a leading businessman, entrepreneur and industrialist in Uganda, with interests in telecommunications, finance, energy, real estate, pharmaceuticals, agribusiness and transportation. He is the current chairman of MTN Uganda.
For more information, please visit: www.mtn.co.ug.
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