MTN’s three-year quest for a long term license in Uganda has borne fruit. The Ugandan government has asked the giant telco to list at least 20% of its shares on the Uganda Securities Exchange, in addition to paying $100 million (KSh10.3 billion) in blanket taxes.
These are the conditions the government issued before it could award a long term licence to the telco.
According to MTN, they will pay the $100 million to the Uganda Revenue Authority in two installments; the first $50 million (KSh 5.2 billion) by 15th March 2020, and the second installment before the end of the financial year.
State Minister for ICT, Peter Ogwang, has confirmed that MTN has a 14-year National Telecom Operator license to operate in the country, with plans to use an additional $260 million in upgrading the infrastructure.
The East African reports that MTN is expected to guarantee 100% geographical coverage of the country with a minimum of 4mphs internet speeds in rural areas and 8Mphs in urban areas.
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