By KT Reporter
MTN Uganda has handed over 50.55 Billion Shillings, being 2 percent of its gross annual revenue, to the Uganda Communications Commission (UCC).
This is part of the telecommunications company’s obligations under Section 3(g) of the Uganda Communications Act, 2013, which mandates UCC to create and manage a fund dedicated to the development of Rural Communications and Information and Communication Technology within the country.
Under the law, all licensed telecom operators are required to contribute 2 percent of their gross annual revenue to UCC, with half of it going to the national Consolidated Fund.
The other half goes towards supporting the development of communications infrastructure in rural and underserved areas through the Uganda Communications Universal Service and Access Fund.
This year’s figure shows an increase of 12 Billion Shillings from the amount that the company remitted last year, as revenues for the year grew.
“At MTN Uganda, we believe that everyone deserves the benefits of a modern, connected life,” said the company’s CEO, Sylvia Mulinge, while handing out the cheque to UCC Executive Director, Nyombi Thembo.
“This contribution is part of our broader strategy to support the transformation of Uganda into a fully digital economy, by not only investing in infrastructure but also enabling affordability, access and digital skills,” she said..
This Fund enables the Government to extend essential communication services to unserved and underserved areas of Uganda.
Thembo commended MTN for meeting this obligation “in good spirit,” consistently, and on time.
He added that the figure has continued to grow year after year, a clear signal that the telecom sector is thriving, partly because of the enabling legal, policy and regulatory environment by the government.
MTN Uganda’s gross revenue for 2024 was 3.172 Trillion Shillings, representing an 18.9 percent increase compared to 2.669 trillion in 2023.
According to the company’s financial report, for the year, total service revenues amounted to 3.143 trillion, while 1.259 Trillion came from the voice segment.
Data Revenue accounted for 811.760 billion, showing an increase of 30.5%, while fintech operations raised 947.509 Billion Shillings-URN. Give us feedback on this story through our email: kamwokyatimes@gmail.com
