Uganda has finally granted telco company MTN a long term operating license after it listed 20% of its shares on the Uganda Securities Exchange, as well as pay $100 million in blanket taxes..
MTN had sought out the license for well over three years.
MTN said it would pay the $100 million to the Uganda Revenue Authority in two installments.
The first $50 million will be paid by 15th March 2020, and the second installment will be fulfilled before the end of the financial year.
Related article: Reprieve For MTN as Nigeria Drops $2 Billion Tax Claim
Uganda’s State Minister for ICT, Peter Ogwang, has confirmed that MTN now has a 14-year National Telecom Operator license to operate in the country.
The firm also has plans to use an additional $260 million in upgrading their infrastructure.
According to a report in The East African, 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.
