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MTN group leadership commits to support industrialization of Uganda as Mbire makes a case for investors

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Simon Kabayo
Simon Kabayohttps://eagle.co.ug
Reporter whose work is detailed

MTN Group’s leadership yesterday met with Ugandan President Yoweri Museveni on the sidelines of his two-day state visit to South Africa, during which they discussed efforts to support the development of the Ugandan economy.

The MTN delegation included MTN Uganda Chairman Charles Mbire; MTN Group President and CEO Ralph Mupita; MTN Uganda CEO Sylvia Mulinge; MTN Southern and East Africa Vice President Yolanda Cuba; and MTN Group Chief Sustainability and Corporate Affairs Officer Nompilo Morafo.

Re-iterating MTN’s commitment to Uganda, Mupita proposed facilitating a two-day investment summit in Kampala in May 2023 in collaboration with the relevant government ministries and departments as well as the Forum of South African Businesses in Uganda.

A platform to attract South African agro-processors and other potential investors to the east African country, the two-day event would be a follow-up to the Uganda-South Africa trade, investment and tourism summit held in South Africa this week.  Mupita said it would facilitate the participation of those investors identified by the Uganda Investment Authority.

“This year, MTN celebrates 25 years in Uganda. We are driven to create shared value across our markets and offer leading digital solutions for Africa’s progress,” said MTN Group President and Chief Executive Officer Ralph Mupita. “We hope that by facilitating this investment summit we can support the further development of the Ugandan economy and her people.”

MTN Uganda – one of 19 MTN operating companies – was established in 1998. In December 2021, it listed its shares on the Uganda Stock Exchange after the largest initial public offering in Uganda’s history. This gave almost 21 000 Ugandans the opportunity to become owners of MTN Uganda, which is the Ugandan stock with the largest market capitalisation on the USE.

Meanwhile Mr Mbire has told South African investors to consider Uganda for investment as it is conducive environment for business.

Mbire presented a paper based on reality and titled Experience of doing inter country business with South Africa.

“Uganda is conducive and has favorable tax regime and as MTN Group, we are a living testimony. I therefore, appeal to investors to consider Uganda as your next destination” Mbire said.

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