Lycamobile makes it to top three in Uganda
Uganda’s catchment area for licensed telecommunications operator is growing exponentially with the recent granting of a license to Lycamobile. Uganda Communications Commission has just granted a National Telecommunication Operator (NTO) license to the company, 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.
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 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,” said an NTO statement.
The company was now set to grow and expand according to Lycamobile Uganda CEO Vinay Choudary said, adding that Lycamobile was “committed and here to stay.”
The Commission was confident that the entry of Lycamobile to the NTO market will further improve competiveness in the sector and ultimately benefit the Ugandan consumer, so said the NTO statement.