Skip to content
Subscriber Only

MTN Says It's Mulling Uganda Listing Amid Government Prodding

  • Unit seeks to renew license that is due to expire in October
  • Company is nation’s biggest mobile operator with 55% share
MTN Group
Photographer: Waldo Swiegers/Bloomberg

MTN Group Ltd. 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 last month that, while listing wasn’t a precondition for renewing a license that expires in October, the government would prefer more Ugandans to be “part of the company,” according to Executive Director Godfrey Mutabazi.