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Charles Mbire acquires more stake in MTN

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Businessman Charles Mbire has bolstered his stake at MTN by acquiring an additional 2,263,930 shares at a total cost of Shs 459,907,621.00 on the Uganda Securities Exchange.

The purchase which took place on August 22, is the second purchase Mbire is making since MTN listed on the securities exchange in December 2021.

Mbire has been boasting of a 4 per cent share value in MTN worth over $55 million.

This comes barely a month since the Telecommunications Mogul acquired a huge stake into Bank of Baroda through a single purchase of 23,529,400 shares worth billions of shillings.

MTN Uganda is majority owned by South Africa’s MTN Group and is listed on the Uganda Securities Exchange (USE). The firm listed on the USE in December after a deeply undersubscribed initial public offering.

Charles Mbire’s other investment ventures include Logistics  (FF), Revenue Assurance- Invesco , Oil  services- (INVESCO Tech, Real Estate and oil exploration among others.

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