Uganda’s second largest mobile phone operator, Airtel Uganda, has initiated internal discussions regarding plans to list a 20% stake in the company via an initial public offering (IPO). PR manager David Birungi said the company will notify the market “when discussions are complete.” The Capital Markets Authority (CMA) requires all foreign-owned telecommunications companies to list...
In July 2018, the Ugandan government introduced a 0.5% tax on financial transactions through Mobile Money. The population that threatened to turn away from the service ultimately did not do so with Covid-19. A boon for the State, decided to take advantage of it. As of Saturday January 15, Ugandans can no longer make payments of more...
Airtel Uganda has said that ‘discussions are going on internally’ with regard to the listing of a 20% stake in the company via an initial public offering (IPO). A report from the Daily Monitor says the cellco has still to release further details, including the possible timing of the IPO. Holders of National Telecoms Operator (NTO)...
MTN MoMo Uganda has announced the launch of an overdraft service, MoMo Advance TO HELP CUSTOMERS ACCESS Mobile Money Funds in advance. MTN Mobile Money in partnership with NCBA Bank, has launched a new MTN MoMo overdraft service dubbed MoMoAdvance that will enable MTN MoMo customers to access advance Mobile Money funds that they can...
Airtel Uganda paid the Ugandan government $77.79 million to renew its 20-year licence, its latest financial report shows. The company also borrowed $4 million from Standard Chartered Bank to pay for its licence renewal in October 2020, the new disclosures in its full financial year ending March 2021 show. This comes as the parent company,...
Uganda has launched a pilot project to distribute solar powered tablets to 1 400 homes across the country. The project is being driven by the Uganda Communications Commission (UCC) via the Uganda Communications Universal Services Access Fund (UCUSAF) and directed under the Buy Uganda Build Uganda (BUBU) policy. The objective is to bridge the digital...
South Africa-based MTN Group has announced that it will proceed with the listing of its 22.4 billion ordinary shares on the Uganda Securities Exchange (USE), with trading commencing immediately. In a press release the emerging markets carrier revealed that the listing had received the requisite approvals from the Capital Markets Authority in Uganda and the USE, and follows...
TerraPay, a global payments infrastructure company, has announced its association with MTN Mobile Money Uganda Limited, a telecom operator in Uganda and part of the MTN Group. The partnership will enable MTN Mobile Money Uganda Limited in facilitating international digital cross border remittances and speedy money transfers to beneficiaries in regions such as India and China. Since 2020, TerraPay has...
MTN’s Initial Public Offering (IPO) to issue 20% of its shares in its Ugandan subsidiary has closed ahead of the planned listing of the operation on the Uganda Stock Exchange next month. The IPO closed yesterday at 4pm, having opened on 11 October amid high expectations that the IPO would be well subscribed. The IPO...
Smile Telecom has launched the “Switch to Smile” campaign, aiming to attract subscribers of Africell, which stopped trading in Uganda earlier this month, NilePost reported. Smile said people can benefit from the “Switch to Smile” offer by presenting their working Africell MiFi and SIM card, which will be swapped for a new free Smile Mi-Fi...
