Ugandans now own 15% of MTN Uganda following the successful completion of the MTN Initial Public Offering, which culminated into the listing of the telecom on the Uganda Securities Exchange.

The listing was a regulatory obligation of the telecom in fulfillment of its second national telecom operator licence in accordance with the national broadband policy of 2018 which sought to increase local participation in the telecom sector.

Following its listing, MTN, whose shareholding structure only comprised 4% local ownership prior to the IPO, has now welcomed more Ugandans to share in its growth story.

MTN Uganda CEO Wim Vanhelleputte said the recently concluded IPO has made it possible for the people of East Africa to own part of the company through the purchase of the shares.

“This has been a successful journey. We put in hundreds of hours to ensure that this is a success. The success of this IPO stamps the true story of Uganda being our home,” said Vanhelleputte.

“From less than 4 percent of Ugandans who had shares in MTN, am happy to report that the more than 15 percent of Ugandans now own MTN Uganda,” he added.

Arguably, millions of Ugandans whose savings are kept with NSSF which is now the second largest shareholder with 8.84% stake in the company.

Other shareholders include Bank of Uganda and Uganda Revenue Authority Staff schemes to mention but a few.

Listing of MTN and in turn augmentation of local ownership in the company presents multi-faceted opportunities for shareholders and the economy at large.

Take for instance, profit retention in the country. Local shareholders holding a 15% stake in MTN Uganda will get to enjoy dividend payouts by the telecom subject to the company’s dividend policy. This investment has the potential to put more money into the pockets of Ugandans and as a result boost economic activities in the country.

To achieve this success, MTN employed a robust sensitization campaign and trailblazing innovation that has revolutionized Uganda’s capital markets.

Mr Paul Bwiso, the Chief Executive Officer USE said: “During this period, over 74,000 SCD accounts were opened with the USE SCD growing the number of SCD accounts held by the USE SCD from approximately 38,000 accounts pre-IPO to 113,421 accounts to date.” This reflects a 195% increment in accounts