AFRICAN TELECOMS
Uganda pushes MTN to go local by listing
Kampala — MTN Group may list its Ugandan unit following government pressure on Africa’s biggest wireless carrier by subscribers to increase local ownership in the East African country. Selling shares on the Uganda Securities Exchange would follow a listing in Ghana and one planned for Nigeria later this year — both agreed to by the Johannesburg-based company as part of deals with regulators. The Uganda Communications Commission said in August that while listing was not a precondition for renewing a licence that expires in October, the government would prefer more Ugandans to be "part of the company", according to executive director Godfrey Mutabazi. MTN Uganda is studying options for "localising" ownership and enabling as many citizens as possible to acquire shares, chair Charles Mbire said on Monday in an interview in the capital, Kampala. Details on the stake and the listing timetable will be determined once a study on available options is complete, he said. Talks about the licenc...
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