How Ugandans in the diaspora can take part in the MTN IPO
When MTN announced that it would be selling shares to the public last week, it emphasized that Ugandans would take priority.
The telecom even revealed some incentives that Ugandans would enjoy in form of bonus shares in addition to taking priority in the allotment.
Following that announcement, queries from social media have displayed appetite from Ugandans in the diaspora itching for a stake in MTN Uganda.
According to MTN, Ugandans in the diaspora are also eligible to receive 5 incentive shares for every 100 sale shares allocated.
Here is how they can take part. Unlike Ugandans living in Uganda who have a choice to use MTN MOMO, those in the diaspora must use the USE easy portal platform.
Like all other methods, one needs an SCD account on which shares can be traded.
Opening an SCD account with a valid National ID
Ugandans in the diaspora with a valid National ID can open an SCD account using USE’s Easy Portal platform, at https://scd.use.or.ug/
To open an SCD account online, one must provide personal information in order for the broker to verify your identity.
Here are some of the personal details you may need at hand.
a) Your name
b) Your date of birth
c) Government-issued ID (specifically national ID) with the issue and expiration dates
d) Contact information: You need to provide your home address, phone number, and email address. Physical address—where you actually live—but you can also give a post office box or the equivalent as a mailing address.
e) Funding information: You need to provide your source of funds
f) Banking details: You are required to provide your bank, branch and account number however, in case you do not see a branch, select head office
g) Uploads: You will be required to upload your ID and passport photo
Once that is done, you will be required to choose a broker from the options provided (click on the link provided for your broker to get to know more about them)
Thereafter, you will be asked to consent to the terms and conditions. Voilà!
You will now have an SCD account.
Ugandans in the diaspora without a national ID
For those Ugandans in the diaspora without valid National IDs, you can use your passport.
In the instance where one does not have a National ID, they can engage one of the five authorised selling agents (brokers) 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.
Once the SCD account is created, the applicant will be able to submit their application to purchase shares using the Easy Portal platform at https://scd.use.or.ug/ .
How to apply for shares
Once the SCD account is opened, you 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 are the contacts of the licensed brokers/selling agents working on the MTN IPO