Uganda: MTN Receives License Renewal Conditions
The leading telecom provider is making efforts to extend its concession for a further ten years to which the commission has no objections except it meets terms of the new conditions.
As an agreement to list part of the company on the Uganda Securities Exchange (USE) in Kampala, MTN now must cover all urban areas with 4G and all other areas with 3G, including masts and base stations.
Uganda’s Finance Minister Matia Kasaija has published a policy paper which calls out to all telecoms operators and major private companies to offer some of its shares to local investors.
MTN is not yet listed on the Ugandan Securities Exchange as a public entity, and this means Ugandans cannot become stakeholders in the company. The implication of this is that Ugandans have no say on how the massive profit that is generated by the cellco is utilised.
Speaking at a Stakeholders Forum in Uganda, the CEO of MTN Uganda Wim Vanhelleputte said he has observed that the public has a genuine interest in becoming shareholders in the company but since as management, they have little influence, the information would be passed across to the existing shareholders of the company.