President Museveni hails MTN Uganda for localization of business

President Museveni has come out to hail Telecom company MTN Uganda for localizing their business so that a number of locals can tap into it.

The President who had been out of the country on a three day working trip in Dubai and then Ethiopia arrived back in the country on the 5th of October 2021.

Shortly after his arrival, he met with the MTN team led by the chairman of the company Mcebisi Jonas.

This meeting came after MTN announced that 20% of it’s shares will be floated on the Uganda Securities Exchange market.

The move will subsequently allow the locals to get involved in the company’s activities.

I met leaders of the @MTNGroup led by their chairman Mcebisi Jonas. The meeting comes just days after @mtnug arrived at an internal decision to float their shares. Now, these people have also told me of their plan to invest US$300m in network expansion in the next 3 years! pic.twitter.com/sgc0b3fUSA

— Yoweri K Museveni (@KagutaMuseveni) October 6, 2021

Museveni said that he’s very happy with this move and it will benefit Ugandans who have just woken out of slumber they have been in for a long time.

I am very happy with the localization strategy of giving shares to Ugandans. It is very important. Ugandans (who have started waking up from sleep/ kulambaala) will now be partners in all the activities of @mtnug.

— Yoweri K Museveni (@KagutaMuseveni) October 6, 2021

The President also also heaped praise on the telecom’s business promotion activities and expansion in rural areas.

Mcebisi Jonas MTN Uganda CEO also informed the President that their localization strategy has already made great strides and will soon start paying off.