Uganda : Telecommunications operators required to float their equity on the local stock exchange
(Ecofin Agency) - On September 18, 2018, Uganda announced that it would compel all the telecommunications operators active in the country to float part of their equity on the local stock exchange as a requirement for the licensing process. “One of the advantages of this measure is that it will help reduce capital flight”, the government explained in a release published at the end of a ministerial council.
In that same release, the government also indicated that it approved the renewal of MTN Uganda’s license but, it was not specified whether the decision was applied to that license renewal.
With more than 10 million subscribers, MTN Uganda is the leading telecommunications operator. Its 20-years license obtained in 1998 should expire this year. In August 2018, Uganda Communications Commission, the regulatory agency announced that it would ask MTN Uganda to join the local stock exchange.