Entebbe, Uganda: President Yoweri Kaguta Museveni has urged South African firm MTN Group and other investors in Uganda to channel their investments into sectors that generate employment and raise incomes, emphasizing the importance of expanding Africa’s economic base to boost purchasing power and drive inclusive growth.
In a post shared on his official X account on Saturday, May 10, the President reflected on MTN’s early days in Uganda, recounting a call he received from Mzee Mandela on a small phone when the telecom had just begun operations.
“I’m glad to see how much MTN has grown. I remember when it first started; Mzee Mandela called me on a small phone. That was the beginning of MTN,” Museveni said.
The remarks were made after meeting a high-level delegation from MTN Group at State House Entebbe on Friday.
In the statement, President Museveni emphasized the need for targeted investments in four core sectors, commercial agriculture, manufacturing, services, and ICT, as the foundation for sustainable job creation and national transformation.
“It is important to invest in sectors that generate jobs and raise incomes. If people have jobs and incomes, they will buy more phones and use them more,” he noted.
He emphasized that the purchasing power per capita across Africa remains low and can only be raised by expanding the continent’s economic base rather than limiting operations to a narrow band of business activity.
Museveni also challenged MTN and other private sector players to explore manufacturing partnerships and tap into Africa’s emerging potential in regional trade and industrialization.
On his part, Mr. Jonas Mcebisi, the Chairman of the MTN Group , reaffirmed the company’s long-term commitment to Uganda and praised the excellent cooperation the company has received from the government and regulatory bodies.
“We just came today to say thank you very much for the support you have always given us. We have had excellent collaboration from the regulators, and MTN is not here for the short term, we are here for the long haul,” he said.
Mr. Mcebisi further expressed interest in strengthening Uganda-South Africa business linkages.
“We believe there is real opportunity to help Ugandan businesses enter the South African market, and that is something we can explore further,” he noted.
He also provided an update on MTN’s footprint in Uganda and globally. “We currently have about 22 million customers in Uganda, with approximately 12 million of them using real smartphones.
“Globally, MTN serves over 297 million customers, which gives us a broad network and capacity to support development,” he added.
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