MTN Expects Growth of More Than 10% in Ugandan Subscribers

MTN Group Ltd. (MTN), Africa’s biggest mobile-phone company, expects “two-digit” growth in Ugandan subscriber numbers over the next 12 months as the start of an oil boom drives economic growth.

Isaac Nsereko, the company’s chief marketing officer in Uganda, declined to give further details in an interview in Kampala, the capital, today. Last year MTN boosted its number of customers in the East African country by 18 percent to 7.6 million.

The nation will start “small-scale” oil production at the end of this year, according to Tullow Oil Plc, the U.K. company which discovered commercial deposits in the country in 2006.

MTN’s Ugandan unit and The Western Union Co. (WU) today started a partnership that will enable the mobile-network company’s 2 million mobile-money users to send or receive funds using Western Union’s global network, MTN Uganda Chairman Charles Mbire told reporters today in Kampala

Plans are underway to introduce similar partnerships in the 21 countries where MTN has a presence, the companies said in a joint statement without giving details.

To contact the reporter on this story: Fred Ojambo in Kampala at fojambo@bloomberg.net

To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net

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