Ugandan tycoon Charles Mbire’s stake in MTN Uganda nears $70 million

Key Points

• Charles Mbire’s 4-percent stake in MTN Uganda has gained nearly $4.9 million in just 51 days, recovering from earlier losses and approaching the $70 million mark.
• The telecom firm’s stock has risen 8 percent since March 18, pushing its market capitalization above $1.65 billion and generating strong returns for major investors.
• Despite the recent surge, MTN Uganda shares are down 1.82% year-to-date, reflecting the sector’s inherent volatility.

Charles Mbire, one of Uganda’s top business leaders and the chairman of MTN Uganda, is seeing a strong recovery in the value of his investment in the country’s largest telecom company. Thanks to a recent rally in the stock, the market value of his stake is now inching closer to $70 million.

Nearly $5 million recovery for Mbire’s stake

Mbire, who owns about 4 percent of MTN Uganda, remains one of the most influential investors on the Uganda Securities Exchange (USE). Over the past 51 days, the value of his shares has jumped by Ush17.91 billion (around $4.89 million) as renewed optimism lifts MTN Uganda’s stock price.

This marks a strong turnaround from earlier this year when, between mid-January and early February, the value of his stake fell by $3.65 million—dropping from Ush259.71 billion ($70.57 million) to Ush246.28 billion ($66.92 million). It’s a reminder of just how unpredictable the regional stock markets can be.

MTN Uganda shares up 8% in just over seven weeks

MTN Uganda, a key part of Africa’s largest telecom group, serves more than 21 million subscribers and has kept a firm grip on its home market.

On the USE, its shares have risen by 8 percent over the past 51 days, moving from Ush250.00 ($0.06828) on March 18 to Ush270.00 ($0.0737) at the time of writing.

This steady rise hasn’t just been good news for Mbire; it’s added real value for all shareholders and helped push the company’s market capitalization past $1.65 billion—cementing MTN Uganda’s spot as one of East Africa’s most valuable companies.

Mbire’s stake heads back toward $70 million

Thanks to the recent share price gains, the value of Mbire’s stake has climbed back up sharply. Over the 51-day period, it grew from Ush223.89 billion ($61.15 million) to Ush241.80 billion ($66.04 million), closing in once again on that $70 million milestone.

Beyond MTN Uganda, Mbire’s investments stretch across telecommunications, finance, energy, real estate, and mining, giving him a broad reach across some of Uganda’s most important industries. His ability to navigate and influence multiple sectors has played a big part in cementing his reputation as one of the country’s most powerful business figures.

Your money and your life

Even with the recent rebound, MTN Uganda’s shares are still down 1.82 percent for the year so far. To put that into perspective: if you had invested $100,000 at the start of 2025, it would now be worth about $98,180, a slight dip of $1,820.