in ,

UK Telecommunication Company Lycamobile Enters Ugandan Market

[PHOTO/ COURTESY]

A UK-based telecommunication company, Lycamobile, has entered the Ugandan market.

The company is set to rival the already existing companies in Uganda that include MTN, Airtel and Uganda Telecom Ltd, among other smaller companies.

Lycamobile is a mobile virtual network operator (MVNO), selling international pay-as-you-go SIM cards to customers wanting to make international telephone calls.

Currently, Lycamobile operates in Australia, Austria, Belgium, Denmark, France, Germany, Ireland, Italy, Netherlands, North Macedonia, Norway, Poland, Portugal, Romania, Russia, South Africa, Spain, Sweden, Switzerland, Tunisia, Ukraine, the United Kingdom and USA.

Read: How James Ndegwa Has Been Cartelling Money Markets Through CMA

The firm was founded in 2002 by a Sri Lanka-British citizen, Allirajah Subaskaran, and is estimated to have a net worth of two billion euros and boosts of 15 million customers across the globe.

In 2016, nearly twenty Lycamobile employees were arrested in France, with about half of them charged with money laundering.

As of June 2017, there were an estimated 20.4 million mobile subscribers out of an estimated population of 39.6 million; a 51.5 percent penetration rate. By March 2018, the number of mobile phone users had increased to 24.8 million, a 70.9 percent penetration rate.

MTN has the biggest market share at 46 percent followed by Airtel Uganda at 44 percent. Africell has a market share of 9 percent while the rest share the remaining 1percent.

Email your news TIPS to [email protected] or WhatsApp +254708677607. You can also find us on Telegram through www.t.me/kahawatungu

Written by Francis Muli

Senior reporter at Kahawa Tungu, Muli has a passion for human interest stories. He believes in unearthing societal rots that have been hidden from the public eye. He has also carved himself a niche in writing business stories. He has worked for various organisations including Kenya Television Service, Business Today among others. Follow him on Twitter @FmuliKE.
Email: [email protected]

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

CCTV Footage Of Babu Owino Taking Shot At DJ Evolve Emerges

FKF Vice President Doris Petra Lands Plum Cecafa Job