USD114m loan for MTN Uganda

27 May 2016

Mobile operator MTN Uganda has secured a USD114 million syndicated credit facility to provide funds for further network expansion and upgrade work. The loan was arranged by Stanbic Bank Uganda, along with Citi, Standard Chartered and Barclays. MTN Uganda Chief Executive Brian Gouldie said: ‘By end of last year, MTN Uganda had repaid all the loans arranged under the 2009 syndication, and we were completely debt free. This placed us in an ideal position to fund our continued aggressive network rollout of high speed data capacity across Uganda.’ MTN Uganda’s capital investment for 2016 is planned at UGX238 billion (USD65.1 million), with another UGX299 billion to be spent in 2017. According to TeleGeography’s GlobalComms Database, MTN serves almost 50% of Uganda’s mobile users, with 9.62 million subscribers at the end of March 2016.

Uganda, MTN Uganda