Lycamobile emerges as Uganda’s third national operator
The Uganda Communications Commission (UCC) has granted a National Telecommunication Operator (NTO) licence to Lycamobile, officially establishing the company as the country’s third national operator under the new licencing regime, alongside Airtel and MTN.
Following the approval of the new licencing regime in June 2020, the Commission allowed all existing telecommunications operators to apply for licencing category of their choice on condition they meet all requirements.
Lycamobile applied for- and was granted the NTO licence. According the UCC, Lycamobile’s parent company Tangerine has been operating in Uganda since 2008.
Accordingly, as is the case for all NTOs, the company is expected to extend its network coverage to 90% of Uganda’s geographical boundary within five years of acquiring the licence.
The operator 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.
UCC acting executive director Irene Kaggwa Sewankambo said, “The Commission is confident that the entry of Lycamobile to the NTO market will further improve competition in the sector and ultimately benefit the Ugandan consumer.”
Lycamobile Uganda CEO Vinay Choudary said the company is now effectively poised for growth. “Lycamobile is committed and here to stay.”