MTN Uganda Limited Chairman in the middle Mr. Charles Mbire opens the FY 2025 MTN Uganda Limited Annual General meeting were he was re-elected
Shareholders of MTN Uganda have retained Charles Mbire as board chairman for another three-year term, following a 99 percent approval vote at the telecom’s Annual General Meeting held on Friday.
The meeting also approved the appointment of David Ogong, board chairman of the National Social Security Fund (NSSF), as a new non-executive director, strengthening the company’s governance as it continues to record strong financial and market performance.
Shareholders said the overwhelming vote in favour of Mbire reflects confidence in his leadership and the strategic direction he has provided during a period of growth and increased competition in the telecom sector.
Under his stewardship, MTN Uganda has maintained its dominance in voice and data services, expanded digital offerings, and delivered steady returns to investors. His renewed mandate will see him continue to guide the company’s long-term growth strategy and shareholder engagement efforts.
The company’s strong performance has also been reflected on the Uganda Securities Exchange, where MTN Uganda shares have posted one of the most notable gains in recent months. The stock climbed from Shs312 in November 2025 to Shs470 in March 2026, signalling growing investor confidence in the telecom’s outlook.
The rally has significantly increased the value of institutional investments, particularly NSSF’s 10.7 percent stake, now valued at over Shs1.2 trillion. The surge has also boosted the value of Mbire’s 4 percent shareholding, which has risen substantially alongside the company’s stock performance.
The addition of Ogong to the board is expected to strengthen oversight and bring deeper institutional investment experience, as MTN Uganda positions itself to sustain growth and enhance shareholder value in the evolving telecom market.
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