MTN Uganda plans $1.2 bn IPO

MTN Uganda’s initial public offering (IPO) is expected to raise about $1.2 billion, Keith Kalyegira, Chief Executive Officer of the Capital Markets Authority said on Tuesday.
MTN store South Africa
MTN Uganda said earlier it had approval to list 20 percent of its shareholding.

MTN has a presence in all 134 districts of Uganda. MTN services are delivered through a network of approximately 145,000 active mobile money agents, 200 service stores and 14 main distributors. At end-June 2021, MTN Uganda had 14.9 million subscribers, 8.6 million MoMo users and 4.7 million active data users.

MTN Uganda currently covers 97 percent of the country’s population and has over 6,000 km of fibre connectivity to provide the voice and data bandwidth that connects more than 15 million subscribers within the country and across the world.