• EDITORIAL POLICY
  • ABOUT US
PML Daily
No Result
View All Result
  • Home
  • NEWS
    • Politics
    • Education
    • Regional
    • Africa
    • World
  • INVESTIGATIONS
    • National Archives
    • Special Reports
  • OpEd
  • BUSINESS
    • Agriculture
    • Tech
    • Finance
  • FEATURES
    • Health
    • Tours & Travel
    • Entertainment
    • Society
  • COLUMNISTS
    • The Suited Penguin
  • SPORT
  • Jobs
  • Magazines
  • Home
  • NEWS
    • Politics
    • Education
    • Regional
    • Africa
    • World
  • INVESTIGATIONS
    • National Archives
    • Special Reports
  • OpEd
  • BUSINESS
    • Agriculture
    • Tech
    • Finance
  • FEATURES
    • Health
    • Tours & Travel
    • Entertainment
    • Society
  • COLUMNISTS
    • The Suited Penguin
  • SPORT
  • Jobs
  • Magazines
No Result
View All Result
PML Daily
No Result
View All Result
Home BUSINESS

MTN bows to pressure, to pay UGX. 373bn licence renewal fees

XANTHIA LENI | PML Daily CorrespondentbyXANTHIA LENI | PML Daily Correspondent
June 14, 2020
36 1
93
SHARES
527
VIEWS
FacebookWhatsAppTwitter
Chief Executive Officer (CEO), MTN Uganda – Mr. Wim Vanhelleputte speaks to media recently (PHOTO/File).

KAMPALA —  The two year protracted battle between MTN Uganda and government seems to have come to an end after the South Africa telecom giants bowed to pressure and agreed to pay USD100 million (approximately UGX. 373.500bn) in license renewal fees.

The announcement was made on MTN Uganda Twitter handle on Saturday, noting, “MTN has fulfilled all conditions precedent to the license, including the payment of a total sum of US$100Million license renewal fee for a period of 12 years commencing 1st July 2020. MTN and the Commission will conclude the signature of the License Agreement within the coming days.”

The MTN Uganda License expired on 21st October 2018, and the Uganda Communication Commission later revised the USD 100 million assessment to around USD50 million but before the deal was concluded, President Yoweri Museveni halted the license renewal on grounds the fee set by UCC was minimal and ordered UCC to collect USD100 million.

However, MTN Uganda protested the new fee, prompting President Museveni to ask them to leave Uganda if they weren’t ready to pay the USD100 million. The President further directed MTN Uganda to trade on Uganda Security Exchange, a move that would allow Ugandans buy shares in the Telecom.

In its statement, MTN Uganda admitted the license debacle noting that although their license had expired, it was variously extended to accommodate conclusion of renewal negotiations which have been ongoing for close to 2years.

“MTN Uganda is now pleased to announce the conclusion of negotiations for the renewal of its Second National Operator license which expired in October 2018. MTN Uganda provides telecommunications services under a Second National Operator License for the operation of a telecommunications system issued on 15 April 1998 for a period of twenty years,” read in part the statement.

Related

Leave a comment

Tags: Chief Executive Officer-MTN UgandalicenseMr. Wim VanhelleputtePresident Musevenitopucc

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe

Advertisement

About

The PML Daily, published via www.pmldaily.com is a publication of Post Media Ltd, a professional Digital/New Media company in Uganda.

Follow us



  • EDITORIAL POLICY
  • ABOUT US

© 2022

No Result
View All Result
  • Home
  • NEWS
    • Politics
    • Education
    • Regional
    • Africa
    • World
  • INVESTIGATIONS
    • National Archives
    • Special Reports
  • OpEd
  • BUSINESS
    • Agriculture
    • Tech
    • Finance
  • FEATURES
    • Health
    • Tours & Travel
    • Entertainment
    • Society
  • COLUMNISTS
    • The Suited Penguin
  • SPORT
  • Jobs
  • Magazines

© 2022

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist