East Africa

Uganda opens selling of MTN shares to East African buyers .

Uganda has opened a window for East Africans to purchase MTN Uganda shares when the telecom operator sells their 20 per cent equity interest on the local stock exchange.

The government is pressuring all its telecom operators, including MTN Uganda and India’s Bharti Airtel’s local unit, to list a fifth of their shares on the Uganda Stock Exchange to enable local citizens to take advantage of the income from the business.

“The shares are limited to Ugandans, as well as East African Community (EAC) residents,” Ibrahim Bbosa, the regulator’s spokesperson for the Uganda Communications Commission, told Reuters.

MTN Uganda didn’t offer any immediate comments.

EAC ‘s six members are Burundi, Kenya, Rwanda, South Sudan, Tanzania, Uganda.