MTN under pressure to list its Uganda unit to renew operating licence there
While listing isn’t a pre-condition for getting a new 10-year contract, the country wants ‘Ugandans to be part of the company’
The carrier is also offering a 35% stake of its Ghanaian unit to local investors in return for access to local spectrum, in what will be that country’s biggest-ever IPO. An MTN spokesperson said the carrier couldn’t immediately comment on a potential Uganda listing.
Kampala — MTN Group is facing pressure to list its unit in Uganda as Africa’s largest mobile-phone company seeks to renew a licence in the country. While selling shares on the local bourse isn’t a pre-condition for the granting of a new 10-year contract, the East African country wants "Ugandans to be part of the company," according to Godfrey Mutabazi, the executive director of the country’s telecommunications regulator. MTN’s current licence expires in October.