In the age of fibre optics, mobile money, and the explosive promise of artificial intelligence, the Uganda Communications Commission (UCC) sits at the epicenter of a digital revolution from telecom licensing and data security to rural connectivity and tech innovation. But beneath this sweeping mandate, the Auditor General exposes a sobering reality – one riddled with enforcement lapses, delayed projects, uncollected revenue, and missed opportunities in a sector central to Uganda’s transformation ambitions. The report for the year ended June 2024, steeped in detail and accompanied by sharp recommendations, draws a portrait of a regulator that is technically capable but,…
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Until 2007, mobile phone subscribers had largely known voice and short message texting needs. In fact, for a long time, the mobile phone had no major use apart from making and receiving calls, and occasionally sending short text messages. However, in 2007, after 11 years of launching in 1998, MTN broke new ground with the launch of WiMAX broadband services, a cutting-edge product that would propel mobile phone users into the future. By 2007, it had been 12 years since the launch of the first mobile phone in Uganda by Celtel, and later by MTN, which launched in 1998….
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Airtel Africa has announced plans to list its Airtel Money unit to secure more capital as it seeks a top spot in the growing digital payments ecosystem across Africa, and ward off competition from other equally strong players such as MTN MoMo, Safaricom’s MPESA and other major fintechs. The multinational disclosed its listing plans for Airtel Money set for 2026, according to a Reuters News Agency report published yesterday. The announcement also coincides closely with MTN Group’s plans to spin-off its financial technology (Fintech) business from its listed company under MTN Uganda in the first half of this year. The…
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In 2023, PostBank Uganda (PBU) launched an innovative digital wallet called Wendi. The mobile wallet was designed to foster prosperity for Ugandans by bridging the financial inclusion divide and extending…
The two founding Directors of Regional logistics company Threeways Shipping Services(Group) Ltd secured a landmark ruling against telecom service provider MTN in a criminal case that has dragged on for 13 years. The case stems from previous allegations that the two Directors- Oscar Baitwa and Geoffrey Baitwa had participated in defrauding MTN. Justice Lawrence Gidudu of the Anti-Corruption Court provided the ruling with key summaries, saying: “The court finds that while a theft of funds from MTN Uganda did indeed occur, there is insufficient evidence to prove beyond reasonable doubt that the accused persons (Oscar Baitwa and Geoffrey Bihama) were…
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MTN is expected to complete the separation of its financial technology (Fintech) business from its listed company under MTN Uganda in the first half of this year. The separation, which MTN Group chief executive officer Ralph Mupita told Bloomberg is part of the requirements for a reorganization in preparation for a $200 million (UGX 732.2 billion) capital investment by Mastercard in the company’s Fintech business, is more advanced in Uganda and Ghana, but remains behind schedule in Nigeria due to a complex regulatory landscape that requires additional processes before the separation is finalised. In July last year, MTN Uganda, in…
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Ugandans on average transacted UGX 159 trillion on MTN Mobile Money, which translated to UGX 435 billion per day for the 12 months to December 2024. Details contained in the…
MTN Uganda has recorded a landmark UGX641.5 billion in net profit for 2024, reflecting a strong financial performance and a year of sustained commercial momentum. Under the leadership of Chief…
Winners of the 8th edition of the ACCA, Deloitte Uganda CFO Awards Uganda’s premier platform for recognizing excellence in financial leadership is back with its 8th edition of the ACCA and Deloitte Uganda Chief Financial Officer (CFO) Awards. This prestigious event focuses on celebrating outstanding financial leaders who have made significant contributions to their organizations and the economy. Charlotte Kukunda, Country Manager ACCA Uganda noted that the 8th edition of the CFO Awards is a celebration of success and growth because it has attained its objective of raising the profile of the CFO role and functions and continues to highlight…
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In this immersive article, the CEO Magazine tracks NSSF financial performance over the last 10 years using a graphical presentation of the Fund’s data. Finance Minister Matia Kasaija took to the podium yesterday at Serena Hotel, Kampala to announce the final interest rate of 11.5 percent that NSSF savers will earn for the Financial Year 2023/24. Kasaija’s docket as Minister of Finance oversees financial, and investment aspects related to the Fund. Kasaija in his remarks noted that the fund was financially stable with the right investment in assets and sectors, while also preserving the growing value of members’ savings. Finance…
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