STATE HOUSE: Ugandans are set to own a piece of the mobile telecom giant MTN Uganda, and Ugandan President Yoweri Museveni says he is very happy about it.
“I met leaders of the @MTNGroup led by their chairman Mcebisi Jonas. The meeting comes just days after @mtnug arrived at an internal decision to float their shares,” Museveni wrote in a tweet this evening.
He added: “Now, these people have also told me of their plan to invest US$300m in network expansion in the next 3 years! I am very happy with the localization strategy of giving shares to Ugandans.”
Museveni says it is now very important for Ugandans who have started waking up from sleep to become partners in the number one network.
In a country with 28 million subscribers, MTN Uganda continues to demonstrate market share leadership with over 50% of total subscriber base in the country.
Informed sources say, the telecom is in the final stages of issuing the Initial Public Offer on the country’s ‘Uganda Securities Exchange’ any time this week.