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Money remains expensive in Uganda. Bank of Uganda has kept its Central Bank Rate (CBR) at 9.75% since August 2025, one of the longest periods without adjustment. The message is clear: maintain macro stability in a world still shaken by global shocks, even if it means keeping domestic credit costly. In practice, this stance raises funding costs for banks, which then pass them on to businesses and households. Inflation eased to 3.4% in October, down from 4% in September, but that only widens the spread between the policy rate and inflation—now over 600 basis points. This makes Uganda’s real interest…
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Uganda no longer lacks CEO-ready talent; it is overflowing with it. From the commanding floors of leading banks and insurance firms, to the boardrooms of fast-moving consumer goods companies, oil and gas multinationals, telecom giants, regulators, and investment firms, there is a new generation of Ugandan professionals. They are strategically placed, thoroughly equipped, and quietly making their way to the corner office. These are individuals already entrusted with large budgets, wide teams, and critical mandates. Some are executive directors, overseeing operations, strategy, risk, and people in top-tier institutions. Others are chief financial officers, managing billions in assets, liquidity, and compliance…
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Behind every billion-shilling leap in revenue, every surge in subscriber numbers, and every bold Fintech innovation at MTN Uganda is more than just strategy—it’s a story of people. A story of a sharp, diverse, and execution-driven leadership team that has turned ambition into action and growth into dominance. This is the powerhouse behind the performance. This is The Yellow Machine. MTN Uganda has long been a dominant force in the country’s telecom sector, but over the past two years, the company has entered a new era of accelerated and multidimensional growth, powered by a dynamic Executive Committee and the transformative…
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Congratulations upon what is your first full year results⏤ strong double-digit growth across all the major fundamentals. First of all, this was your first assignment as CEO; in a new market and working with new people⏤ looking back, in October 2022 when you took on the assignment, what were your fears and have they come to pass? When I confirmed that I was taking up this job, one of my friends sent me an article about my predecessor. They said I had really big shoes to fill. Indeed it was a great legacy. I had to figure out where to…
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On Tuesday 4th October 2022 in a press conference to introduce Sylvia Mulinge, as MTN Uganda’s new Chief Executive Officer, Charles Mbiire, the MTN Uganda Board Chairman and 3rd largest shareholder assured customers, staff, shareholders and other stakeholders that with Sylvia Mulinge, the telco was in “capable hands”. He told the media that the board was “very confident” in Ms. Mulinge’s “passion for transforming customers’ lives, leadership, and women empowerment using technology” and they were banking on this possession for the telco’s “accelerated growth and the positioning of MTN for greater relevance ahead”. “I would like to reassure all our…
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Tell us about yourself and your career summary- especially the Bugembe that we don’t already know. The normal Andrew, not the MTN Andrew is a happily married man with two boys. I am an Arsenal F.C. supporter, so you know what that means with resilience. Am a Formula 1 Team Mercedes fan and recently during COVID, also picked up on golf. Career-wise, I just made 25 years at MTN, I joined MTN Uganda in 1998, at the time they were opening. It has been a great opportunity working in the telco industry, for the biggest telco on the continent and…
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Following approval of the declaration of dividends by its shareholders at the Annual General Meeting held on the 27th day of May 2022, MTN Uganda has paid out a total dividend of UGX105.4 billion to its 21,452 shareholders for the year ended 31st December 2021. The National Social Security Fund – NSSF is MTN Uganda’s second-largest shareholder, with 8.84% shareholding, earned a total of UGX 9,317,880,000/= in dividends for the year 2021. Each shareholder, registered on the books of the company by 01 June 2022, has received a dividend of UGX4.706 per share in accordance with the Uganda Securities Exchange…
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MTN Uganda has appointed Andrew Bugembe as their new Chief Financial Officer. Mr. Bugembe started work on April 1, replacing Mike Blackburn who retired early this year having served as the Telecom’s CFO since 2011. In his position, Mr Bugembe is part of the dynamic leadership team of MTN Uganda that boasts of 16 members, four of whom are women. Mr. Bugembe brings to his position, more than 21 Years of Telecom experience from various countries, working at MTN in different capacities, holding executive and senior management roles in finance departments, including holding the CFO position at MTN Liberia and…
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