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Tycoon Charles Mbire acquires more stake in MTN

This is the second purchase the businessman is making since MTN listed on the Securities Exchange, an indication the businessman has faith in the future of the business.

MTN Uganda Chairman Charles Mbire (PHOTO/Courtesy).

KAMPALA, UGANDA: Businessman Charles Mbire has bolstered his stake at MTN Uganda after acquiring an additional 2,263,930 shares in the telecom company at a total cost of Shs 459,907,621.00 on the Uganda Securities Exchange.

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The purchase which took place on August 22 was evidently the signature activity of the day, on Uganda’s Securities Exchange where MTN is among the top companies trading their shares on the stock market.

This is the second purchase Mbire is making since MTN listed its shares on the Securities Exchange, an indication the businessman has faith in the future of the business.

This comes barely a month since the Businessman acquired a huge stake in Bank of Baroda through a single purchase of 23,529,400 shares worth billions of shillings.

Charles Mbire’s other investment ventures include Logistics (FF), Revenue Assurance- Invesco , Oil services- (INVESCO Tech, Real Estate and oil exploration among others.

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