MTN Uganda is a subsidiary of MTN Group, a multinational telecommunications group connecting approximately 232 million people in 22 countries across Africa and the Middle East. In 2009, MTN Uganda introduced its mobile telephone-based banking product known as Mobile Money. As of March 2015, MTN controlled 80 percent of the mobile money market in the country. In November 2015, MTN Uganda switched off 3.7 million of its 11.5 million customers to comply with the Uganda Communications Commission’s new SIM card registration requirements. In May 2016, MTN Uganda borrowed US$114 million (UGX:385.8 or 380 billion, depending on the source) to expand its network and build a new headquarters building on Jinja Road in Kampala. Funding was in the form of a syndicated loan by a consortium of four Ugandan banks, namely Stanbic Bank Uganda, Standard Chartered Uganda, Citibank Uganda, and Barclays Bank of Uganda. In August 2016, MTN Uganda in partnership with Commercial Bank of Africa (Uganda) introduced a new product that allows customers to save money and access microloan products, using their cell phone. The product, called MoKash is available on personal accounts and on accounts for small and medium-sized enterprises. In August 2018, MTN Uganda launched a joint Tidal–MTN music streaming service. The Tidal platform, co-owned by American mogul Jay-Z, offers streaming audio and video for a daily fee of USh600 (US$0.16). Subscribers receive music, videos and exclusive content. Music from the majority of Uganda’s lading artistes is available. At that time, the service was available only in Uganda and South Africa, on the African continent.

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