East African, non-EAC citizens tipped on how to apply for shares in MTN Uganda


William John Nyakatura financial advisor SBG Securities

Kampala | Pepper Business – It is as fresh as an oven-baked cake that MTN Uganda has offered over 4.5 billion shares to the public for acquisition. 

The offer signifies that the public can now become shareholders of MTN meaning they will own part of the company. 

The move, the telecom’s Chief Executive Officer, Wim Vanhelleputte said is part of MTN’s localization agenda aimed at achieving shared growth within the communities it serves. 

While priority will be given to Ugandan investors, MTN has also dangled some incentives for East African investors. 

(L-R) Wim Vanhelleputte, CEO MTN Uganda, Anne Juuko, CEO Stanbic Bank Uganda and Andrew Bugembe, Chief Financial Officer MTN Uganda

All EAC citizens are eligible to receive 5 incentive shares for every 100 sale shares allocated.

This is how EAC citizens can become part of those that stand to benefit from the 5 incentive shares. 

It is critical that you have an SCD account and in case you don’t have, you ought to create one. 

  • Non-Ugandans can open an SCD account through the USE’s Easy Portal platform, at https://scd.use.or.ug/
  • A copy of a valid passport will be required to create the SCD account. 
  • Kenyans, however, may submit a copy of a valid National ID.
  • If the Easy Portal platform is inaccessible, applicants can engage one of the five authorized selling agents to assist them in submitting a physical KYC form (Form SCD 1a) to which a valid copy of their Passport, and a copy of their passport photo will be attached.

At that point, the first step is done. An SCD account has been created. 

The next step is applying for the shares in MTN. 

Submitting an IPO application

  • All Foreigners with an existing SCD account can apply for shares through the USE’s Easy Portal platform at https://scd.use.or.ug/  .
  • If the Easy Portal platform is inaccessible, applicants can engage a licensed broker to submit a physical application form.

Below is a list of the licensed brokers/selling agents working on the MTN IPO

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