The Uganda Communications Commission has granted a National Telecommunication Operator (NTO) license to Lycamobile, making the company the Third National Operator.
Lycamobile, whose parent company Tangerine Limited has operated in Uganda since 2008, got the NTO license on March 24, 2021. During an event held at the UCC Head Office on Tuesday, May 11, 2021, Ag. Executive Director Irene Kaggwa Sewankambo said the Commission was proud of the milestone Lycamobile had attained and plegded support from the regulator.
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Following the approval of a new licensing framework in June 2020, the Commission allowed all existing telecom operators to apply for license categories of their choice as long as they met the respective licensing requirements.
Accordingly, Lycamobile applied for the NTO license, which was granted after due evaluation of their application by the Commission.
Under the NTO License, Lycamobile, like all other NTOs, is expected to extend its network coverage to 90% of Uganda’s geographical boundary within five years of getting the license.
Lycamobile to list not more than 20% of its shares
According to UCC’s new licensing framework, Lycamobile is also expected to list a minimum of 20% of its shares on the Uganda Securities Exchange in accordance with the listing rules and guidelines set by the Capital Markets Authority and the Uganda Securities Exchange.
At the event on Tuesday, the Lycamobile Uganda CEO Vinay Choudary said the company was now set to grow and expand. Accompanied by Chief Operations Manager for Africa Jegajeevan Rajathurai and Chief Technical Officer Kobel Humphrey, Mr Choudary added that Lycamobile is committed and here to stay.
The UCC ED, who was accompanied by the Head Legal Abdul-sallam Waiswa, and Head Public and Internations Relations Ibrahim Bbossa, said the Commission is confident that the entry of Lycamobile to the NTO market will further improve competitiveness in the sector and ultimately benefit the Ugandan consumer.
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