MTN Uganda could divest shares to pension fund

25 Jan 2019

MTN Uganda could be looking to sell part of its shares to the country’s National Social Security Fund (NSSF), as it looks to comply with new regulations governing local ownership of telcos. The requirement for a local shareholding has been introduced as part of discussions over the renewal of MTN’s operating licence. A report from Mobile World Live cites Uganda’s President Yoweri Museveni as saying that MTN will likely be ‘disposing shares to NSSF’, though this has not been confirmed by South African-owned MTN. The firm is currently operating via a temporary permit while talks on its licence renewal continue. Recent reports suggest that the government wants MTN and other major telcos in the country to divest at least 30% of their shares to local investors.

Uganda, MTN Uganda