MEGA TRANSACTIONS WOMAN: Have you met Gertrude Wamala Karugaba, the lawyer behind some of corporate Uganda’s largest deals? S&L Advocates’ Gertrude Wamala Karugaba, who heads the firm’s Head of Corporate and Commercial practice has just finished her latest assignment and perhaps the biggest to date. She was the lead legal advisor in MTN Uganda’s IPO in which the telco raised a cool USD150million (UGX535billion). And she is not just a good corporate and commercial lawyer. She is as feisty as she is a thought leader whose name can open doors, both in corporate and regulatory Uganda. She is a glass ceiling breaker too- she is not just one of few women in corporate and commercial law in Uganda but she has earned the admiration and trust of industry peers and clients alike.

CEO ReporterDecember 21, 2021December 22, 2021

S&L Advocates’ Gertrude Wamala Karugaba, heads the firm’s Head of Corporate and Commercial practice. She is highly rated by peers and clients alike and is a go-t0 legal advisor on all matters finance, banking, equity and debt capital markets, corporate law, commercial agreements and regulatory support.

On December 6th, 2021, MTN Uganda Limited listed and commenced trading of its 22.4 billion ordinary shares on the Uganda Securities Exchange (USE). This was after the listing receiving the requisite approvals from the regulator, Capital Markets Authority (CMA) and the USE. The MTN share sale is to date Uganda’s largest initial public offering raising a record UGX535 billion from applications for 2.9 billion shares (including incentive shares). Following the IPO, MTN Group’s holding in Uganda’s largest telecom operator reduced to 83.05%. Perhaps most importantly, and in line with the objective for listing, Ugandans and Ugandan entities own 15% of the…

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