Uganda: Utl to Sell Safaricom Shares

Mergers, Acquisitions and Financial Results

Uganda telecom (utl) and Renaissance Capital will handle the sale of Safaricom shares at utl's service centres countrywide. Renaissance is in partnership with Afrika Investment Bank, which is one of the two lead brokers for the share purchase. utl's role is to provide its extensive customer service network as a platform for selling Safaricom shares.

Afrika Investment Bank is not working on the sale of the shares on its own, but through Renaissance Capital. Renaissance staff will help investors open up Central Depository System accounts at the service centres. "This is an opportunity for everybody to become investors in East Africa. Safaricom is the largest telecommunication provider in Kenya and have the highest growth rate in east and central Africa." Hans Paulsen, the utl chief commercial officer, said.

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