This archive report was first published on 24 July 2020.
On July 24, 2020, Uganda's government announced a move to allow East Africans to benefit from the telecom sector's profits by listing a fifth of their shares on the Uganda Securities Exchange.
MTN Uganda, a telecom operator, is set to sell 20 percent of its equity stake on the local bourse, with the shares restricted to Ugandans and citizens from the East African Community (EAC).
According to Ibrahim Bbosa, spokesman for the Uganda Communications Commission, the regulator, "The shares are restricted to Ugandans, and also citizens from the East African Community (EAC).">
MTN Uganda has not commented on the matter yet.
The six members of the EAC are Burundi, Kenya, Rwanda, South Sudan, Tanzania, and Uganda.
