Uganda: MTN Borrowed Shs368.5b to Fund Licence Extension

Commercial banks in Uganda are expected to profit off the $100m syndicated loan advanced towards MTN Uganda to pay for its 12 year licence.

In notes published along its financial results for the half year ended June, MTN revealed an increase in its net debt from Shs110b (R423m) in December 2019 to Shs367b (R1.6b) due in part to a syndicated loan advanced to the telecom to fund extension of its license.

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