21.7 C
May 27, 2024
Let Out  News
Image default
Business Markets

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.

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.

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.

Related posts

Government commissions a third liquid nitrogen plant in Mbarara

Giles Kirimwira

Simba Telecom tycoon Patrick Bitature to lose multi-billion properties after court ruling

Sigmund Ainembabazi

A lack of incentives for local investors and mixed reactions as gov’t grants land to Senegalese National for construct Akon City

Giles Kirimwira

Leave a Reply

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More