Lycamobile has been granted a National Telecommunication Operator license by the Uganda Communications Commission. Lycamobile, whose parent company Tangerine Limited has operated in Uganda since 2008, got the NTO license on March 24, 2021.
The Executive Director of Uganda Communications Commission, Irene Kaggwa Sewankambo, stated that the Commission was satisfied of the breakthrough Lycamobile had achieved and pledged support from the regulator.
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.
Thus, 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.