As previously reported, MTN Uganda has been in talks with the Government to sell a stake to NSSF. As of today, the MTN Group CEO Rob Shutter has confirmed that MTN Uganda is ready to give 20% of its stake to Ugandans.
This will bring the percentage of local ownership into the giant telecom company from the current 4% to 20%.
MTN Uganda, the country’s biggest tax payer was prompted to sell stake to locals (NSSF) as a prerequisite to renew its license that expired in October 2018.
Reaching an agreement been the Government and MTN Uganda has been a turbulent process. For one, the government wanted MTN to list its shares while the company seemed to have completely different ideas. What followed was stallment of the licence renewal.
Rob Shutter did not cancel out the possibilty of MTN Uganda getting listed on the Uganda Securities exchange.
