Private telecommunication companies in Uganda are set to sell off mandatory shares to the public once Parliament approves its stand on a new proposed stock exchange policy by Government. This week, the ministry of finance tabled its proposed policy paper as a call to all privately owned companies majorly telecom companies to have them listed on the Uganda securities exchange.
From social media tax to online media websites license fees. The Uganda communications commission backed the tabled idea as a move that will not only promote a sense of ownership for Ugandans but also build more companies that serve the interests of the country without segregation and the feel of foreign companies crawling dominant in Uganda.
According to the finance minister Matia Kasaija, the tabled policy paper will seek to force all privatized companies to list on the stock exchange market. Although the ministry of finance wants to introduce it as a citizens beneficiary listing. The move is seen as one of the ways in which Government is trying to improve domestic revenue in a bid to meet various targets in the long run.
Among the few Telecom operators Government intends to see listed on the Exchange include: Airtel, MTN, and Africell which are so far the leading Telcos in the country. The Finance minister opts to sight having public shares from these carriers given their private ownership record including fellow yard companies like Tororo Cement, Kakira Sugar works among others to be listed on the Uganda securities exchange.
