Ugandan Tycoon Charles Mbire Sees 3.65 Million Loss On Mtn Uganda Shares
- Charles Mbires stake in MTN Uganda has declined by 3.65 million in the past 16 days, due to a recent downturn in the share price of the Uganda-based telecom provider.
- MTN Ugandas stock price is down 5.17 since January 15, dragging its market value below 1.7 billion and leading t0 loses for shareholders like Mbire.
- Despite the downturn in MTN Ugandas stock, Mbires diversified portfolio reinforce his standing as a key player in Ugandas economy.
Ugandan business executive and chairman of MTN Uganda, Charles Mbire, has seen a sharp 3.65 million drop in his stake as the companys shares pull back in the wake of recent market fluctuations.
After a strong start to 2025, which pushed his stake near the 70 million mark , the businessman has been impacted by the latest dip in MTN Ugandas stock price. Over the past two weeks, the value of his 4 percent stakecomprising 895.6 million shareshas fallen by Ush13.43 billion 3.65 million.
Mbire, who remains the wealthiest investor on the Uganda Securities Exchange USE, saw the market value of his holdings drop from Ush259.71 billion 70.57 million on Jan. 15 to Ush246.28 billion 66.92 million at the time of this report.
MTN Uganda shares dropMTN Uganda , which serves 21.6 million subscribers and holds a dominant position in the local telecom market, has seen its shares decline by 5.17 percent decrease over the last 16 days, from Ush290 0.079 on Jan. 15 to Ush275 0.075, with the dip erasing millions of dollars in market value.
The decline follows a brief rally at the beginning of the year, when Mbires holdings climbed by 2.4 million, reflecting the sectors inherent volatility. Investors have begun reducing their stakes in the company as caution spreads amid fluctuating stock values.