MTN Uganda, one of the biggest and most thriving telecommunications service providing companies in Uganda and East Africa managed to secure a syndicated loan of 100 million dollars from a group of five banks that included Standard bank, Standard Chartered bank and Citibank.
The acquired funds are meant to help in improving MTN-Uganda’s network infrastructure which aligns with the company’s strategy to advance digital and financial inclusion.
The debt facility was oversubscribed, “reflecting robust confidence from lenders in MTN-U (MTN-Uganda)’s long-term potential and focus on expanding its digital and financial services offerings,” the statement said.
The MTN-Uganda company which is just a subset of its mother company MTN- South Africa boasts a mobile subscription of about 21 million customers.
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