Uganda to force telcos to list 30% of shares

22 Jan 2019

Uganda’s ICT Ministry will expect major telecoms operators in the country to list at least 30% of their shares on the local stock market as part of new licensing conditions. A report from The Independent says the main targets of the move are foreign-owned operators MTN Uganda and Airtel Uganda, which between them control almost 90% of the local mobile market.

MTN is currently operating under a temporary concession as it awaits news on the renewal of its licence, which expired in October. The country’s President, Yoweri Museveni, recently criticised the Uganda Communications Commission (UCC) for saying that MTN would be charged USD58 million for the ten-year renewal instead of the USD100 million fee which was set initially.

Ugandan authorities stated in June last year that telcos would face stringent new rules when renewing licences, including the requirement for partial local ownership, higher network coverage targets, and stricter controls on quality of service (QoS) levels.