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MTN Uganda to sell shares left over from undersubscribed 2021 IPO

MTN Uganda to sell shares left over from undersubscribed 2021 IPO

TELECOM firm MTN Uganda (MTNU.UG) plans to sell shares left over from its deeply undersubscribed 2021 Initial Public Offering to local investors to expand local ownership and comply with regulatory requirements, it said on Saturday. The Uganda unit of South Africa's MTN Group (MTNJ.J) has received regulatory approval for the extra share sale, MTN Uganda said in a statement published in The East African newspaper. When it was listed on the Ugandan stock market three years ago, MTN Uganda sought to sell 20% of its shares to local investors to fulfil regulatory requirements but only met 60% of that target. MTN Uganda said…
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Appetite from local investors fuels surge in African startup funding

Appetite from local investors fuels surge in African startup funding

DESPITE a steep downturn in startup funding in Africa since 2022, more African investors are channelling substantial investments into homegrown enterprises. This is a marked departure from the previous years, when North American investors, particularly from the U.S., led the charge in startup funding across the continent. Analysis from Africa: The Big Deal identified at least 619 unique investors who participated in deals of $100k or more within the continent, 35% of these investors were headquartered in Africa, making it the region with the most investors in African startups. This shift came after a dramatic 47% year-on-year drop in the…
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