Safaricom Ethiopia has announced the appointment of Wim Vanhelleputte as its new Chief Executive Officer, effective from September 1st, 2023. Vanhelleputte, the former CEO of MTN Uganda, will succeed Anwar Soussa, who has led the company since its inception. Vanhelleputte brings a wealth of experience to his new role, having served as the Operating Executive for West and Central Africa (WECA) Markets of Liberia, Guinea-Conakry, Guinea-Bissau, and Congo-Brazzaville at MTN Group since August 2022. His responsibilities included overseeing performance and governance in these markets. Before that, he had been at the helm of MTN Uganda for six years being replaced…
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Mulinge Sylvia, MTN Uganda’s first female Chief Executive Officer, who was appointed in June 2022 has officially started work today. Her tenure started on 1st October, which was a Saturday. She takes over from Andrew Bugembe the MTN Uganda CFO who has been in an acting capacity since August when Wim Vanhellepute left to take up his new assignment in West Africa as the MTN Group’s Chief Operations Executive, a newly created role, to oversee Liberia, Guinea-Conakry, Guinea-Bissau, and Congo-Brazzaville. We do understand that Sylvia’s first assignment is a staff town hall meeting held at the company’s offices in Industrial…
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Uganda’s telecommunication giant, MTN Uganda Limited has announced its financial results for the six months ended 30 June 2022. The outgoing Chief Executive Officer (CEO), Wim Vanhelleputte says that despite the currency pressures on the economy characterised by increased inflationary, the company has been able to deliver a resilient half-year performance. He says that the current higher fuel prices, rising domestic food crop prices due to dry weather conditions across the country, as well as persistent global production and supply chain challenges, have a significant impact on the spending power of their customers. “Against this backdrop, we have sustained investment…
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For starters, can you share with us your overall assessment of your performance- where you found the company and where you leave it now? I officially joined MTN Uganda on the 1st of August 2016 and have done three, two-year terms in the position. In terms of business performance, if you compare the number of subscribers, we are now almost at 16 million customers as of Q1 2022. Six years ago, when I joined, we were about 8.5 million- so we have almost doubled. We have also doubled the network. We had about 1,500 towers six years ago, and we’re…
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MTN Uganda Limited has in the first quarter of 2022 ended 31 march, recorded a steady progress despite challenging macro environment following a protracted lockdown due to COVID-19. Salient features: • Mobile subscribers increased by 8.5% to 15.9 million • Active data subscribers grew by 20.1% to 5.4 million • Active fintech subscribers increased by 14.9% to 9.5 million • Service revenue grew by 11.0% to UGX 536.3 billion • Data revenue grew by 45.0% to UGX 115.6 billion • Fintech revenue grew by 20.7% to UGX 144.8 billion • Earnings before interest, tax, depreciation, and amortization (EBITDA) grew by…
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The deal is signed and sealed. Ugandans now own 15% of MTN Uganda. This follows the successful completion of the MTN Initial Public Offering which culminated into the listing of the telecom on the Uganda Securities Exchange (USE). The listing was a regulatory obligation of the telecom in fulfilment of its second national telecom operator licence in accordance with the national broadband policy of 2018 which sought to increase local participation in the telecom sector. Following its listing, MTN, whose shareholding structure only comprised 4% local ownership prior to the IPO, has now welcomed more Ugandans to share in its…
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Kenyan investors are showing keen interest in participating in the MTN IPO following the opening of the offer on October 11 2021 and a series of investor roadshows that took place in Nairobi last week. The offer, which closes on November 22 2021, is now open to Kenyans and East African investors. With 4.4 billion shares on offer, the MTN IPO is the second largest offer in the region after Safaricom in Kenya and the first telecommunication company to be listed on the Uganda Securities Exchange. Speaking on the sidelines of one of the investor meeting, Cynthia Mbaru, Dyer &…
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On Monday 11th October 2021, MTN Uganda opened its initial Public Offer that will run until 22nd November 2021 4pm. The MTN Uganda Chief Executive Officer, WIM VANHELLEPUTTE sheds more light on the MTN IPO, responding to some of the pertinent questions from the prospective retail investors. First and foremost, how would you describe MTN Uganda as a Company? MTN Uganda is a subsidiary of the MTN Group, a leading emerging market operator with a clear vision to lead digital solutions for Africa’s progress, through its 277 million customers in 20 countries in Africa and the Middle East. That said, MTN…
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MTN Uganda has launched a nationwide forest restoration project to symbolise the deepening of its roots in Uganda, a country that has been home to the company since 1998. Themed “Uganda is Home” this initiative is in preparation of MTN Uganda listing 20% of its shares on the Uganda Stock Exchange, an opportunity for Ugandans to own a part of the company. Launched yesterday at Kyewaga Central Forest Reserve in Entebbe, the MTN reforestation project, that is being undertaken in partnership with the National Forestry Authority, will see the company restore 220 hectares of forest cover in five Central Forest…
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Absa Bank Uganda and MTN Mobile Money Uganda Limited have today announced the introduction of mobile money payment functionality, also known as MTN MoMoPay on Absa Point of Sale (POS) machines/terminals. The service is open to all MTN Uganda mobile money account holders, who can now make payments on any Absa POS machine, regardless of whether they hold an account with the bank. Announcing the partnership, Absa’s Managing Director, Mr. Mumba Kalifungwa noted that the new functionality makes it even more convenient for customers to pay for goods and services directly from their MTN mobile money account to the Absa…
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