For now, I will quickly note that already 10% is a high charge by Mobile Network Operators in Uganda on the money a customer sends or receives.
There are few companies that make instant impact in an economy like MTN Uganda
Since the official launch in Uganda on October 21st 1998, MTN has been undisputed market leader, top innovator and a company of firsts. As the top tax payer for several years in a row, MTN has been at the center of Uganda’s economic growth and transformation. At SummitBusiness magazine and Summit Consulting Ltd, we have seen it all, wrote about it and partaken in it.
In his keynote budget speech 2016/17, the President said that telecoms are evading taxes by under-declaring their revenue. “The telephone companies have been evading tax. They make 3 million calls from outside, but declare only half of it and all the money is hidden.” Noted the president.
It all started in 2004. And 12 years later, MTN Kampala Marathon has lived not only to identify and promote talent of athletics but also give back to the community. MTN Kampala marathon is an annual athletics event, organised by MTN with support from other partners.
In September 2015, Sanlam acquired the then sluggish NIKO insurance.
What is the unoccupied space in the insurance sector?
What are the three reasons that explain the low insurance penetration in Uganda? Justify
Lack of awareness of how insurance works and its benefits. By its nature, insurance products come packaged in legalese little understood by members of the public. As a result, insurance is generally difficult to sell more so being an intangible product.
Peace is not merely the absence of war. While Uganda is generally peaceful, the downward spiral of the shilling, a slowdown in economic activity and a general shut down in exports to South Sudan have created an economic war of sorts.
Total assets of the pension sector assets hit Ugx6.5 trillion in 2015, up from Ugx5.2 trillion in 2014 according a report by the Uganda Retirements Benefits Regulatory Authority (URBRA); largely due to the National Social Security Fund (NSSF).
Exchange rates; the Uganda shilling held steady averaging between UGX 3350-3410 per dollar in June. Over the past two quarters, the shilling has held ground against the major trading partner currencies, that is, the USD, Euro and Kenya Shilling. This steady hold of the shilling is attributed to the expensive credit which has continued to stifle private sector credit growth.
The culture is great. The people are exceptional. And the surprises are many. If you are a leader from Karamoja, what would be your vision?