Telecommunications company MTN Uganda is set to invest UGX 1.07 Trillion ($300M) in Uganda.
The investment will mainly be in the area of network expansion to see the company upgrade network reach and increase coverage in the country.
MTN officials revealed the plan while meeting President Yoweri Kaguta Museveni yesterday, three days after the company reached an internal decision to list 20% on stock exchange.
In his twitter posts after the interaction President Museveni showed excitement at MTN Uganda’s plan to invest $300M in network expansion.
“I met leaders of the @MTNGroup led by their chairman Mcebisi Jonas,” Yoweri Museveni said “Now, these people have also told me of their plan to invest US$300m in network expansion in the next 3 years!”
MTN says that it covers 97% of land in Uganda, however in most areas especially up areas covered by 4G network in the area are still restricted to areas surrounding urban centers with the rest of the areas having 3G and Edge.
With this planned investment, the company will not only increase on the scope of the coverage but also the network quality.
MTN remains the largest telecom company in Uganda both by revenue and market share.