Wednesday, May 12We Break the News

Tag: africa new today

BUSINESS: Telecom Companies in Uganda want more equity in licensing.

BUSINESS: Telecom Companies in Uganda want more equity in licensing.

AFRICA, Business, UGANDA
Telecom operators want the National Payment Systems Bill, 2019 to provide leniency in insolvency proceedings where the Central Bank may revoke or suspend a licence of a company in financial stress. According to the Acting Chief Legal Counsel at Uganda Telecom (UTL) Prossy Kembabazi, revocation of a licence should be limited to a company that goes into liquidation. “Before revoking a licence, the Central Bank should notify the operator stating reasons for intended revocation and invite the operator to show cause why the licence or approval should not be revoked within 14 days,” Kembabazi said. The proposal was re-echoed by Airtel Uganda’s Legal and Regulatory Director, Dennis Abigaba Kakonge who said that with fair hearing, the licensee would have an opportunity to appe...