MTN Uganda Shares Boost NSSF Stake Over Shs.1 Trillion

MTN Uganda shares have surged on the Uganda Securities Exchange (USE), creating significant gains for major local investors in just eight weeks. The stock rose by Shs.116 per share, reflecting renewed investor confidence in the telecom giant.

MTN Uganda Share Price Jump

By November 25, 2025, MTN Uganda shares traded at Shs.312. By February 6, 2026, the price jumped to Shs.428. This sharp increase occurred in a short period, signaling strong market sentiment and growing investor optimism.

NSSF Emerges as Biggest Winner

The National Social Security Fund (NSSF), MTN Uganda’s largest local shareholder with a 10.7 percent stake, gained enormously from the rally. The pension fund holds 2,629,607,810 shares.

Over eight weeks, the rise in MTN Uganda’s share price generated gains of Shs.305 billion ($85.7 million) for NSSF. Consequently, the total value of its MTN holding now exceeds Shs.1 trillion, standing at Shs.1.125 trillion ($316.2 million). This represents a major boost to workers’ savings invested through the fund.

Charles Mbire’s Investment Also Climbs

MTN Uganda board chairman and businessman Charles Mbire also saw his investment grow sharply. Mbire owns a 4 percent stake, totaling 895,561,810 shares.

The recent rally added Shs.103.9 billion ($29.2 million) to his portfolio, bringing the total value of his MTN Uganda stake to Shs.383.3 billion ($107.7 million).

MTN’s Influence on the Uganda Securities Exchange

MTN Uganda remains one of the most influential counters on the Uganda Securities Exchange. Furthermore, the recent price surge underscores the company’s central role in driving market performance.

For institutional investors like NSSF and high-net-worth individuals such as Mbire, the eight-week rally demonstrates the potential for swift wealth creation when market sentiment turns bullish.