Why MTN will be owned by Ugandans once its listed on the exchange market
MTN Uganda has not had a favorable beginning of 2019 since Police deported the company top officials over national security claims. During a recent meet up at the world economic summit in Switzerland, President Museveni gave a directive to the MTN Group CEO and this was to list on the local exchange market as Kenya’s crypto qualified in the east.
The Uganda Exchange market (USE) is just like any other exchange market where companies list their stock value for exchange and citizens can buy actual shares easily. In the previous years, Government has always lashed out to foreign companies with directives to list on the local exchange market.
Airtel Uganda last year inked its move to list on USE as Africell is also rumored to issue a similar directive this year. For MTN, the president decided to make the call directly to the global CEO in order to have the company partially owned by Ugandans. Making things more interesting, it’s easy to own these shares of companies operating in Uganda like MTN which will list through NSSF.
How you will buy MTN shares once it’s listed
Through USE, buying company shares only requires you to have the right KYC documents submitted to the exchange body to be eligible to buy shares. For instance, UMEME, Cipla, BATU, DFCU are some of the companies already listed on the exchange market. So, if you wish to invest some cash in functioning companies, then head over to the USE website for more information.
Once MTN is listed on the stock exchange market now that UCC hasn’t issued its next 20-year license yet, investments on the exchange market will shoot high and even become easy for novices to learn the benefits of owning shares in top companies like the Yello telco.
In a nutshell, President Museveni issued an exciting directive to telecom companies to float shares on the local exchange market and this will cover up the national deficit plus closing portals of repatriating profits from the country. So, the listing of MTN on the exchange market will make its shares widely accessible to everyone who qualifies to buy stock on the local market.