Telecoms firm MTN Uganda says has approval to list 20% stake in IPO

NAIROBI: Telecommunications firm MTN Uganda has regulatory approval to list 20% of its shareholding on Uganda’s bourse, its chairman said on Tuesday.

A unit of South Africa’s MTN Group, the firm, which has a subscriber base of 15 million and also offers mobile money financial services.

MTN Group Vice President Southern and East Africa Region Yolanda Zoleka Cuba said the company plans to invest 1 trillion shillings ($281.37 million) over the next three years to expand coverage and access across the East African country.