Ugandan parliament asks govt to clear UTL debt in exchange for equity in new telecoms operator

Friday 23 October 2020 | 10:59 CET | News
The Ugandan Parliament has recommended that the government clears a UGX 45.6 billion debt that Uganda Telecom (UTL) holds with the Eastern and Southern Trade and Development Bank, now known as TDB, The Observer reported. The debt is a condition for the acquisition of a USD 650 million loan from the same bank. The Parliamentary Budget Committee report said that TDB had received an expression of interest to extend the USD 650 million loan for various projects and had set a condition for the government to take over UTL's debt obligation. 

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Categories: General
Companies: Ucom / Uganda Telecom / UTL
Countries: Uganda
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