MTN Uganda’s share price has continued its steady climb on the Uganda Securities Exchange (USE), rising from Shs270 to Shs312 per share by Tuesday, November 25, 2025.
The 15.6% gain registered over the past four months has delivered notable returns for the telecom’s major local shareholders, chiefly the National Social Security Fund (NSSF) and MTN Uganda Board Chairman, Charles Mbire.
The appreciation has significantly boosted the value of NSSF’s 10.7 percent stake in the company. Over the four-month period, each NSSF-held share gained Shs42, lifting the overall value of the fund’s investment. At the current exchange rate of Shs3,609 to the US dollar, the increase translates into more than $30 million in added value. With the new share price at Shs312, the fund’s stake is now valued at approximately Shs820.4 billion, reflecting improved returns for its members.
Charles Mbire, who owns a 4 percent stake, has also realised substantial gains. His holding has appreciated by more than Shs37 billion in recent months, equivalent to over $10 million using the prevailing dollar rate. The rise in the share price places the current value of his stake at about Shs279.4 billion.
The sustained upward movement of MTN Uganda’s stock underscores the company’s strong performance on the local bourse. Market analysts attribute the trend to consistent profitability, an expanding customer base, and predictable dividend payouts that continue to attract institutional and retail investors.
MTN’s dominance in the telecom sector and its solid financial outlook have positioned it as a reliable long-term investment option on the USE. For shareholders like NSSF and Mbire, the latest rise in share value reaffirms the benefits of holding strategic stakes in well-performing companies.
