MTN Uganda raises USD 100 Mn for network expansion

By Editor on October 13, 2009 · Leave a Comment

MTN in Uganda has raised USD 100 Million for network expansion with Absa Capital as the lead arranger.

Stanbic Bank, Standard Chartered, Kenya Commercial Bank, Barclays, DFCU and Orient bank participated to raise the amount. Isaac Nsereko, chief marketing officer of MTN Uganda confirmed the development to Reuters.

Uganda has a total of 6 telecom players: Uganda Telecom (UTL), Zain, Orange, Warid, I-Telecom and MTN. MTN is the largest with 60% market share and just under 5 million subscribers, according to Isaac Nsereko.

Filed under Mobile · Tagged with Absa, Barclay, Barclays, DFCU, I-Tel, I-Telecom, Isaac Nsereko, Kenya, Market Share, MTN, MTN Uganda, Network, Network Expansion, Orange, Orient, Stanbic, Stanbic Bank, Standard Chartered, telecom, Uganda, Uganda Telecom, UTL, Warid, Zain

MTN widens mobile banking service countrywide (Uganda)

By Editor on March 10, 2009 · Leave a Comment

MTN Uganda has widened its mobile banking service countrywide, bringing to a close a five-month test period to gain approval from the Bank of Uganda. This service enables subscribers to transfer money using their mobile phones. MTN is in partnership with Stanbic Bank, which will look after the MTN Mobile Money accounts, and the incumbent worked with consultants Oscillyte to define the mobile money strategy.
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