Thursday, March 19, 2020 /04:52 PM
/ By Broadcast Media Africa/ Header Image Credit: Dignited
MTN Uganda has reportedly agreed to pay $100-million to renew its operating licence that expired in October 2018.
The Uganda Communications Commission (UCC) has given the company temporary extensions pending the renewal of its licence and had initially approved the amount of $58 million for the renewal.
However, the country's president Yoweri Museveni questioned this amount, and that prompted the regulator to reverse its decision subsequently.
Museveni directed the UCC and the Ministry of Information and Communications Technology to explain why the amount was decreased from the $100 million that was initially agreed on by Cabinet.
Museveni said that in MTN's 20 years of operation, the mobile giant had reaped vast profits.
Since then, MTN and the UCC have been in negotiations around the final amount.
Keith Muhakanizi, The secretary to the Permanent Secretary of the Treasury and Finance, confirmed the latest development and said that the government had negotiated $100 million and MTN had agreed to pay it.
Uganda's ICT Minister, Peter Ogwang, said that the money would be paid in two instalments of $50 million, with the first instalment due in March, and the second due in April 2020.