MTN pledges to boost Uganda’s economic development
MTN Group has pledged to deepen investments in Uganda, and support the country’s developmental goals.
The telco’s leadership yesterday met with Ugandan President Yoweri Museveni on the sidelines of his two-day state visit to South Africa, during which they discussed efforts to support the development of the Ugandan economy.
MTN, Africa’s biggest telecom firm, has presence in Uganda since 1998. MTN Uganda listed on the Uganda Stock Exchange in 2021, after the largest initial public offering in the East African country’s history.
This gave almost 21 000 Ugandans the opportunity to become owners of MTN Uganda, which has the largest market capitalisation on the bourse.
Currently, MTN Uganda has 16.7 million mobile subscribers, 6.1 million active data customers, 10.6 million fintech users and is key economic driver in the country.
The MTN delegation that met Museveni was led by MTN Group president and CEO Ralph Mupita; MTN Uganda chairman Charles Mbire; MTN Uganda CEO Sylvia Mulinge; MTN Southern and East Africa vice president Yolanda Cuba; and MTN Group chief sustainability and corporate affairs officer Nompilo Morafo.
Re-iterating MTN’s commitment to Uganda, Mupita proposed facilitating a two-day investment summit in Kampala in May 2023 in collaboration with the relevant government ministries and departments as well as the Forum of South African Businesses in Uganda.
The summit, Mupita said, will be a platform to attract South African agro-processors and other potential investors to the east African country, the two-day event would be a follow-up to the Uganda-South Africa trade, investment and tourism summit held in South Africa this week.
Mupita said MTN would facilitate the participation of those investors identified by the Uganda Investment Authority.
“This year, MTN celebrates 25 years in Uganda. We are driven to create shared value across our markets and offer leading digital solutions for Africa’s progress. We hope that by facilitating this investment summit we can support the further development of the Ugandan economy and her people.”