Skip to content
Mpumalanga Press

Mpumalanga Press

FOR THE PEOPLE BY THE PEOPLE

  • Government commits to address concerns of Sedibeng communities
    Source: SAnews - South African News Published on 2022-08-10
  • Rand Water warns of planned shutdown in parts of Tshwane
    Source: SAnews - South African News Published on 2022-08-10
  • Eskom warns of possible Stage 2 load shedding
    Source: SAnews - South African News Published on 2022-08-10
  • SIU to investigate alleged corruption at EC, Limpopo water boards
    Source: SAnews - South African News Published on 2022-08-10
  • President undertakes Presidential Imbizo in Sedibeng District Municipality
    Source: SAnews - South African News Published on 2022-08-10
  • KZN first female Premier sworn in
    Source: SAnews - South African News Published on 2022-08-10
  • E Cape CoGTA condemns illegal Amathole District staff strike
    Source: SAnews - South African News Published on 2022-08-10
  • State seeks to finalise outstanding litigation in Marikana matter
    Source: SAnews - South African News Published on 2022-08-10
  • Heavy sentences for North West house robbery suspects
    Source: SAnews - South African News Published on 2022-08-10
  • Special Tribunal orders freeze of Transnet executives' assets
    Source: SAnews - South African News Published on 2022-08-10
  • Ensuring greater protection for victims of GBV
    Source: SAnews - South African News Published on 2022-08-09
  • DPWI allows high school use of the Sandrift Sport Field
    Source: SAnews - South African News Published on 2022-08-08
  • SA must deal with poverty, joblessness: Pandor
    Source: SAnews - South African News Published on 2022-08-08
  • Gauteng township retailers to receive support
    Source: SAnews - South African News Published on 2022-08-08
  • Cele commends R400m cocaine bust
    Source: SAnews - South African News Published on 2022-08-08
  • Government commits to address concerns of Sedibeng communities
    Source: SAnews - South African News Published on 2022-08-10
  • Rand Water warns of planned shutdown in parts of Tshwane
    Source: SAnews - South African News Published on 2022-08-10
  • Eskom warns of possible Stage 2 load shedding
    Source: SAnews - South African News Published on 2022-08-10
  • SIU to investigate alleged corruption at EC, Limpopo water boards
    Source: SAnews - South African News Published on 2022-08-10
  • President undertakes Presidential Imbizo in Sedibeng District Municipality
    Source: SAnews - South African News Published on 2022-08-10
  • KZN first female Premier sworn in
    Source: SAnews - South African News Published on 2022-08-10
  • E Cape CoGTA condemns illegal Amathole District staff strike
    Source: SAnews - South African News Published on 2022-08-10
  • State seeks to finalise outstanding litigation in Marikana matter
    Source: SAnews - South African News Published on 2022-08-10
  • Heavy sentences for North West house robbery suspects
    Source: SAnews - South African News Published on 2022-08-10
  • Special Tribunal orders freeze of Transnet executives' assets
    Source: SAnews - South African News Published on 2022-08-10
  • Ensuring greater protection for victims of GBV
    Source: SAnews - South African News Published on 2022-08-09
  • DPWI allows high school use of the Sandrift Sport Field
    Source: SAnews - South African News Published on 2022-08-08
  • SA must deal with poverty, joblessness: Pandor
    Source: SAnews - South African News Published on 2022-08-08
  • Gauteng township retailers to receive support
    Source: SAnews - South African News Published on 2022-08-08
  • Cele commends R400m cocaine bust
    Source: SAnews - South African News Published on 2022-08-08

  • Latest news
  • All News
    • National News
    • Local News
    • Business and Finance News
    • Crime News
    • Other News
  • Lifestyle
    • HealthHealth News
    • EntertainmentEntertainment News
  • Sport
  • About us
    • Staff Directory
  • Downloads
  • Contact
    • Your story
  • Terms & conditions
  • Business
  • General news

MTN Uganda announces intention to float 20% of its shares on the Uganda Securities Exchange​

3 min read

MTN Uganda announces intention to float 20% of its shares on the Uganda Securities Exchange​

  This will potentially be the largest IPO on the Ugandan market and will be delivered primarily through a digital paperless/ green platform which is the first of its kind in East Africa.

·        The offer and listing of MTN Uganda is in line with MTN Group’s localisation plans to drive local ownership in the markets within which MTN operates.

·        It is also in line with the policy objectives of the Government of Uganda as articulated in the National Broadband Policy (2018) and the Uganda Communication (Licensing) Regulations S. I No. 95 of 2019.

 

MTN Uganda is pleased to announce our intention to proceed with an initial public offer (IPO) and subsequently list on the Uganda Securities Exchange (USE).  This follows the requisite approval by the Capital Markets Authority and Uganda Securities Exchange for MTN Group to sell 20% of its shareholding in MTN Uganda to the public. MTN Group owns 96% of MTN Uganda.

 The listing is in line with the Group’s strategic priority to create shared value, partly through ensuring broad-based ownership in its operating subsidiaries. It is also in line with the provisions of MTN Uganda’s NTO licence, which require its listing by end-June 2022.

 “The intention to float announcement is a major step towards delivering on our plan to list on the USE,” said Charles Mbire, Chairperson of the Board of Directors, MTN Uganda. “It is a reaffirmation of our long-term commitment to expand investment opportunities for Ugandans and we look forward to continuing our engagement with the CMA and USE to take forward the IPO and the listing.”

 MTN Group Vice President for Southern and East Africa Yolanda Cuba called the planned listing a milestone: “Over the last 23 years, the people of Uganda have embraced MTN as their own and given us the legitimacy to operate throughout this country. We are reciprocating by inviting Ugandans to share in the ownership of the success that we have built together.”

In 1998, licence in hand, MTN Uganda commenced the rollout of our infrastructure and services. We provided affordable access to the people through a widespread voice and data network, investing UGX3.5 trillion in infrastructure development across the 134 districts of Uganda, both rural and urban. To facilitate universal access, we continue to contribute 2% of our gross annual revenue to the Uganda Communication Commission.

Over the years, MTN Uganda has prioritised the expansion of rural coverage. We currently cover 97% of the country’s population and have over 6,000km of fibre connectivity to provide the voice and data bandwidth that connects more than 15 million subscribers not only within the country but also across the world.

The growth in mobile penetration in Uganda from 0.27% in 1998 to 67% as of March 2021 is proof of MTN’s contribution to democratise mobile telephony. The fruits of this are evident in the widespread adoption of key technology platforms powered by high-speed connectivity, which enable the creation, distribution, and consumption of a wide range of digital services.

 MTN Mobile Money (MoMo) has also revolutionised the financial landscape. Formal financial inclusion has nearly doubled from 28% in 2009 when MoMo was introduced in Uganda to 58% as of 2018.

MTN Uganda contributes an annual average of approximately UGX700 billion to the government treasury through taxes paid on our own account and as a withholding agent of government, making us the largest taxpayer in Uganda for the past decade.

 We have over 1,000 direct employees and employ another 150,000 indirectly. Through our widespread distribution network, we provide a livelihood to more than 500,000 people, making MTN one of the largest employers in the country.

About Post Author

Ulandi Bekker

See author's posts

Tags: mpumalangapress mtn mtnuganda securities

Continue Reading

Previous: SANCB is Spreading the Economic Benefits of hosting conferences and meetings in smaller towns and villages
Next: New online service to allow motorists to renew and pay for license disks

Related Stories

Hydrogen as fuel: we should be selective about how we make and use it Hydrogen as fuel: we should be selective about how we make and use it
1 min read
  • Business
  • Lifestyle
  • National
  • Technology

Hydrogen as fuel: we should be selective about how we make and use it

Aug 3, 2022
Money for school pays for Lottery boss’s golf estate home Money for school pays for Lottery boss’s golf estate home
8 min read
  • General news
  • National

Money for school pays for Lottery boss’s golf estate home

Jul 28, 2022
Yet another Agri dealer switches to Massey Ferguson MF-7700-Series-tractors-are-fully-kitted-out-for-your-specific-farming-requirement
4 min read
  • Agri Culture
  • Business
  • National

Yet another Agri dealer switches to Massey Ferguson

Jul 27, 2022

You may have missed

Police murderer remanded in custody for more information Police murderer remanded in custody for more information
1 min read
  • Crime
  • Local

Police murderer remanded in custody for more information

Aug 11, 2022
Zaza Mahlangu Foundation presents- WOMEN WITH PURPOSE SEMINAR ! Zaza Mahlangu Foundation presents- WOMEN WITH PURPOSE SEMINAR !
1 min read
  • Lifestyle
  • Local

Zaza Mahlangu Foundation presents- WOMEN WITH PURPOSE SEMINAR !

Aug 11, 2022
Two suspects arrested on charges of possession of unlicensed firearm with ammunition Two suspects arrested on charges of possession of unlicensed firearm with ammunition
2 min read
  • Crime
  • Local

Two suspects arrested on charges of possession of unlicensed firearm with ammunition

Aug 10, 2022
Lilian Ngoyi: an heroic South African woman whose story hasn’t been fully told Lilian Ngoyi: an heroic South African woman whose story hasn’t been fully told
6 min read
  • National

Lilian Ngoyi: an heroic South African woman whose story hasn’t been fully told

Aug 10, 2022
Copyright © Mpumalanga Press. All rights reserved. https://upgrader.co.za | DarkNews by AF themes.