MTN Rwanda successfully lists on the Rwandan Stock Exchange

• Becomes first Telco to be so listed

Wale Ameen

Online Editor

MTN Rwanda has announced the succesfull listing of it’s shares on the Rwanda Stock Exchange, thus making history as the first Telco to be so listed on the RSE.

Going by this development, shareholders of Crystal Telecom Limited now hold a direct 20 per cent stakes in MTN Rwanda and can trade their shares on the Rwandan Stock Exchange.

This announcement was contained in a statement issued by the company and sighted by Business a. m.

Speaking on the development, the CEO MTN Rwanda Mitwa Ng’ambi said,

“We are grateful to our customers, partners and stakeholders and look forward to this new chapter. Listing on the RSE is a major milestone for us and the platform for even better and bolder things to come.”

On his part, MTN Group President, Ralph Mupita said, “This listing will assist in deepening the Rwandan capital markets by broadening public ownership over time and will also establish the basis for a new and emerging telecoms and technology asset class on the exchange.”

Just before its listing, the Telco had changed it’s status from a private company to a Public Liability Company with effect from 2020 to be known as MTN Rwandacell Plc.

The MTN Group team had earlier met with President Kagame and other officials.