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MTN Uganda appoints Sylvia Mulinge as new CEO

| THE INDEPENDENT | MTN Uganda has appointed Safaricom’s Chief Consumer Business Officer, Sylvia Mulinge, as its new chief executive officer effective October 1.

She replaces Wim Vanhelleputte who has been promoted to a regional role as operating executive for the West and Central African Markets of Liberia, Guinea-Conakry, Guinea-Bissau, and Congo-Brazzaville within the MTN Group.

Vanhelleputte assumes the new role next month as Andrew Bugembe, the current Chief Financial Officer, takes a short stint as the Chief Executive Officer effective August 1 to September 30.

Mulinge, who was first appointed to lead Vodacom Tanzania in 2018, failed take up the job after Tanzanian government refused to issue her with the work permit.

She joined Safaricom in 2007 and has occupied various senior roles over the years, including head of retail, head of sales, and director of consumer business.

She is a graduate of the University of Nairobi, Kenya, where she received a Bachelor of Science degree.

Mulinge joins MTN Uganda at the time the company is recording tremendous growth both in terms of revenue and customer subscribers.

MTN Uganda, which listed on Uganda Securities Exchange last year through an initial public offering, recorded a 5.8% growth in net profit to Shs 340.4billion for the year ended December 2021 on the back of a nearly 11% growth in subscribers to 15.7million.

The company said the one-off payment for interim operating license and contract termination of a service provider reduced its profitability. The payments consisted of Shs 51billion (US$14.1million) to Uganda Communications Commission for the period Oct.20, 2018,when MTN’s second previous national operator license expired, to July 1, 2020 when the new National Telecom Operator (NTO) license was issued, and Shs11.3billion (US$3million) paid to Invesco Uganda for service contract termination.

MTN Uganda’s license was renewed for 12 years in July 2020 for $100 million on condition that lists at least 20% of its shares on the USE.

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One comment

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