Museveni To MTN Uganda; You Made Great Move To Localize Your Businesses

Posted by: Suubi Anne in Business October 7, 2021

President Museveni has commended MTN Uganda for localising their business. This has come after MTN announced its move to float 20% of its shares on the Uganda Securities Exchange.

Apparently, the move will allow Ugandans and Africans to be partners in all the activities of the company.

“Localisation is very important. It removes nationalism in business where all people become partners,” Museveni said

He went ahead to also congratulate the leadership of MTN for the expansion of services to the rural areas as well as in business promotion.

Just recently, MTN Uganda announced its intention to proceed with an initial public offer (IPO). Subsequently list on the Uganda Securities Exchange (USE).

Mcebisi Hubert Jonas, the MTN Chairperson informed Museveni that they have made great progress in the localization strategy.

According to him, Ugandans will acquire shares. This also comes as the company aims at ensuring that the people of Uganda have ownership in MTN.

“The localization process has started to ensure that MTN is owned by Ugandans. The overall new strategy is that as a company, it is owned by Africans,” he said.

Mcebisi further informed the president that Ugandans currently man the key positions. This includes that of CEO MTN in South Sudan.

Museveni met the MTN group officials at Statehouse, Entebbe. They were led by the chairperson of the board, Mcebisi Hubert Jonas.

Kabyanga Godfrey, State Minister For ICT and National Guidance also attended this meeting.

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