UTL hands over assets to Uganda Telecommunications Corporation Limited 

UTL has been officially handed over to UTCL.

Uganda Telecom Limited's assets were acquired by Uganda Telecommunications Corporation Limited at shillings 316 billion today.

The ceremony was presided over by Evelyn Anite, the state minister for privatisation and investment. The ceremony was also attended by UTL's outgoing administrator Ruth Sebatindira and officials from UTCL including Dr. Grace Ssekakubo, the chairman board of directors.

Anite welcomed the handover noting that, "This redevelopment of the company will help in the provision of the youth out there with no job, this will help them to get employment opportunities."

She said that UTL had come a long way since, "President Museveni requested me to save UTL. I was unwell but I said I would stand with it and and try my level best and support this company."

She said that UTL has a huge client base of ministries, agencies, and departments in addition to a 9.13% shareholding in West Indian Ocean Cable Corporation (WIOCC). She urged UTCL to make use of this clientele to succeed with its new assets.

UTL administrator Ruth Sebatindira said that her main task when being appointed by President Museveni  was to ensure a smooth transition of the organisation to new owners. She was also tasked with reaching a mutually beneficial agreement with UTL's creditors.

Sebatindira served as UTL administrator from November 10, 2020 until November 18, 2022.

She revealed that effective November 30, UTL will cease to employ anyone and former employees are free to seek new terms with UTCL or employment elsewhere. The new terms come into effect on December 1.

The company currently employs 230 people with 317 sites/masts country wide out of 472.

The payment of the Uganda Communications Employees Contributory Pension Scheme (UCECPS) liability of 165BN as verified by the Auditor General is ongoing to all qualifying former Uganda Posts and Communication Corporation (UPTC) staff.