Charles Mbire, the chairman of MTN-Uganda has joined the dollar Centimillionaire club as details of his net worth in the country’s telecom giant has been revealed.
Mbire has/owns 4% of MTN-Uganda and therefore, this means that with MTN valued at $1.5 billion, then Mbire’s shares are valued at $60 million.
MTN is reportedly valued at $1.5 billion becoming the second most valuable company in East Africa after Safaricom.
According to The East African valuation analyst, other top companies are Tanzania Breweries valued at $1.38 billion, Equity Bank $1.27 billion, East African Breweries Limited $1.19 billion, KCB $1.13 billion, Vodacom Tanzania $744 million, Tanzania Cigarette $733 million and Co-operative Bank $689 million.
Mbire has other interests in financial services Baypot, Nilecom, real estate in South Africa and UK, stocks in energy, oil services, oil exploration, miming and revenue assurances.
The above investment coupled with $60 million earns Mbire into dollar Centimillionaire club. A centimillionaire is a person/people who have wealth between $100 million to $1 billion.
According Forbes, in East Africa, these include Kenyatta family and Shah of Bidco in Kenya and Devih family Tanzania. So guessing his wealth has since ended with the listing of MTN-Uganda on the stock.
In December 2008, it was estimated that Mbire’s net worth exceeded $65 million. In January 2012, his net worth was estimated to have increased to greater than $200 million. In January 2019, he was estimated to be worth $400 million