Government of Uganda has forced all its telecom operators, including MTN Uganda and the local unit of India’s Bharti Airtel, to list a 5th of their shares on the Uganda Securities Exchange to allow locals to benefit from the sector’s profits.
East Africans can now buy shares in MTN Uganda when the telecom operator sells it 20 percent equity stake on the local bourse.
Ibrahim Bbosa, spokesman for the Uganda Communications Commission said, “The shares are restricted to Ugandans, and also citizens from the East African Community (EAC).”
In 2018, MTN Group Ltd was pressured to list its unit in Uganda as the telecom giant sought to renew its licence (10-year contract) which expired in October 2018.
source https://taarifa.rw/mtn-uganda-selling-20-shares-to-eac-investors/
