Five local banks have lent MTN Uganda Shs 370 billion to enable it expand its operations and improve its netwrok in the country.
Thank you for reading this post, don't forget to subscribe!The syndicated loan was spearheaded by Stanbic Bank Uganda Limited. Other banks included: Absa Bank Uganda, Citibank Uganda, and Standard Chartered Bank Uganda and Centenary Bank.
Paul Muganwa, Head of CIB at Stanbic Bank Uganda, said they were happy to collaborate with MTN Uganda.
“MTN Uganda is at the forefront of adopting innovative financing solutions of scale.”
MTN-U’s Chief Financial Officer, Andrew Bugembe said MTN Uganda’s achievement in securing substantial funding underscores their competitive strength and reflects the growing appetite for premium corporate debt instruments within Uganda’s financial sector.
“MTN Uganda continues to operate with a strong balance sheet, maintaining leverage well below the industry’s average of 1.5x,” he said.
He said the loan facility will enable MTN Uganda to continue delivering on its growth ambitions.