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When the Uganda Communications Commission (UCC) recently invited public comments on a proposed deal for Axian Telecom Fibre Limited to acquire a controlling stake in Wananchi Group (Holdings) Limited, it…
Uganda Communications Commission (UCC) has opposed the idea of government giving preferential treatment Uganda Telecom in securing government business over other telecoms, warning that it could present a number of challenges to the industry from a regulatory perspective. Telecoms currently mint cash from government largely through voice services, which supplements heavily to their bottom line and financial health. UCC’s warning arises from two contentious conditions which government has to meet, commiting to support the revamped Uganda Telecommunications Company Limited (UTCL) by giving it priority for government telecommunications business, and an exemption of import duty on all telecommunications infrastructure imported by the…
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Uganda Telecommunications Corporation Limited (UTCL)—the newly formed government-owned telco is expected to, this Friday, November 18th, 2022, take over the assets of the now insolvent Uganda Telecom. Uganda Telecom was previously owned by the governments of Libya and Uganda. UTCL the new owner of Uganda Telecom is 60% owned by the Ministry of Finance, Planning and Economic Development (MoFPED) and 40% by the Ministry of ICT and National Guidance (MoICT&NG). UTCL was incorporated on 8th April 2021 and on 23rd February 2022, entered into an Asset Sale and Purchase Agreement to buy the assets- and not debts and or liabilities…
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As per the insolvency law, the biggest chunk of the proceeds will go towards paying bank loans, statutory obligations, pensions arrears of former Uganda Posts and Telecommunications Corporation (UPTC) staff, administration fees and other employee related costs. Very few of private sector, creditors will be paid. As if this is not bad enough, of the total UGX316.4 sale price, the government (UTCL) has only paid about UGX75 billion and has so far failed the 30th of September 2022 deadline to pay the remaining UGX241.6 billion. Of the UGX75 billion paid so far, UGX13,886,681,657, inclusive of taxes has gone to the…
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In the period leading to the 2011 fall and subsequent death of Libyan Leader, Col Muammar Muhammad al-Gaddafi in October 2011, Uganda Telecom was a promising company. The previously state-owned telco was spun-off Uganda Posts and Telecommunications Corporation (UPTC) in the 1999 unbundling that also created Post Bank Uganda and Posta Uganda Limited. In June 2000, the Government of Uganda (GoU) sold a 51% stake for USD33 million to Ucom, a consortium backed by Swiss-registered Telecel International, Germany’s Detecon and Orascom of Egypt. To catch up with the rest of the players at the time, Uganda Telecom in 2000 launched…
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