MTN Uganda has embarked on countrywide town hall meetings to create public awareness about its listing of shares on the Uganda Securities Exchange (USE).

Together with their senior brokers – SBG Securities and Crested Capital – MTN senior managers led by the CEO, Wim Vanhelleputte, on Tuesday, October 26, 2021, opened up shops in major cities and municipalities as well as appearing on radio talkshows where they started providing vital information about the MTN offer of shares and the stock market to communities.

MTN is offering shares at Shs200 per share with a minimum order quantity of 500 shares which means Ugandans can become shareholders in MTN Uganda with an investment of as low as Shs 100,000.

Mr Andrew Bugembe, the CFO, speaks at a townhall meeting in Lyantonde.

Speaking at the first townhall meeting at the Source of the Nile Hotel in Jinja, Mr Vanhelleputte said the MTN IPO is aimed at giving all Ugandans an opportunity to become part owners of the country’s leading telecommunications and mobile money operator and, in doing so, help democratize and bolster Uganda’s capital market.

“The MTN IPO is a people’s IPO. It is mostly targeting Ugandan individual investors, giving every Ugandan a chance to own a stake in MTN Uganda for as low as Shs 100,000. MTN has also made the process of application (for shares) easy and affordable through MTN MoMo,” Vanhelleputte said.

At the Lyantonde and Mbarara townhall meetings, Mr Andrew Bugembe, the CFO, and Ms Juliet Kakayi Nsubuga, the GM Wholesale and Carrier Services, urged the people to apply for MTN shares.

“If you are a Ugandan and you apply individually, you will get 5 bonus shares for every 100 shares you buy. If you are a Ugandan and you apply using the M-IPO platform, similarly you will get 10 extra shares for every 100 shares you will buy,” Mr Bugembe said.

“For every 100 shares you apply for using #MTNMoMo, you get 10 extra shares for free! Dial *165*65# and follow the prompts. We have also classified SACCOS as individuals so that they can benefit from the bonuses. These bonuses and incentives we have given to an individual extend to Saccos because they are made of individual Ugandans,” he added.

MTN senior managers during the town hall meeting in Jinja.

In Gulu City, northern Uganda, Mr Joram Ongura, CEO SBG securities, urged the people to analyse the stock market and see its benefits and risks.

“Capital Market investments are subject to market risks. Share prices go up or down depending upon how the market relates the company to such risks. Evaluate resilience of the company to such risks, look into past performance. Ask your questions,” Ongura said.

“There are numerous benefits of buying shares, and some of these include; Dividends, capital gains, share ownership, assets used for collateral, Build Wealth, Excellent Tools of Investing, and bonuses,” he added.

The MTN IPO awareness tour will cover the districts of Jinja, Kamuli, Iganga, Busia, Tororo, Mbale, Kapchorwa, Moroto, Soroti, Kumi and Pallisa, Apac, Lira, Gulu, Kitgum, Adjumani, Moyo, Arua, Nebbi, Koboko, Wakiso, Mukono, Kayunga, Bombo, Luwero, Mpigi, Sembabule, Kalisizo, Masaka, Kalangala, Entebbe, Mityana, Mubende, Fortportal, Kasese, Kyenjojo, Hoima, Kiboga, Masindi, Kigumba, Bweyale, Lyantonde, Mbarara, Bushenyi, Ishaka, Kiruhura, Ibanda, Kabale, Kisoro and Ntungamo among others.