Uganda’s UCC Hikes Up MTN Licence Fee
The telco which is owned by the MTN Group of South Africa must now pay $118 million to renew its operating permit for a further ten years. This new fee is an increase from the initial price of $100 million.
The mobile operator said that the price hike is due to a revision of MTN’s forecast of its annual gross revenue.
The fee for a 15-year licence renewal has now been set at $150 million.
MTN Uganda’s first 20-year licence was granted in 1998, and it expired in October last year.
Since then the telecoms giant has been operating under a temporary permit as its negotiations with the country’s regulator continue.
The Kampala government is looking forward to seeing MTN increase its level of local ownership as the mobile operator had said that it is looking to offload a 20% stake to Ugandan investors before the end of this year.
A transfer of shares to Uganda’s state pension company, the National Social Security Fund (NSSF), has also been suggested.
Credit: This article originated from www.balancingact-africa.com