NSSF Uganda has been set to benefit from an offer that will see them own 20% stake in the telecom giant MTN Uganda. This report has been confirmed by the MTN Group CEO Rob Shutter will speaking at the African summit conference in Munyonyo yesterday. He didn’t rule out the possibility of listing the company on the local security exchange market but further stressed the importance of leaving no stone unturned before doing so.
The telecommunication giant flexes with an impressive subscriber base number of over 18 million subscribers with is about 56% of the market as per reports in 2017. The company has been heavily scrutinized since their trading license expired in October last year with concerns coming from both the public and government before issuing out a new 10 years license.
As reported earlier the government required the South African based telecom company to list their profits and upgrade their services to a nationwide 4G coverage before their license renewal. With MTN’s move to increase the domestic investors’ involvement in the company from 4% to 20%, we wonder if this will be able to earn for them a new trading permit. We shall update you as each story unfolds from the process.
