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Charles Mbire is staying. MTN Uganda shareholders made that clear, and they made it decisively.
At the company's Annual General Meeting held Friday, shareholders voted to reappoint Mbire as Board Chairman for another three-year term. The vote was 99 percent in favor. It was not a close call. It was a statement.
The meeting also approved the appointment of David Ogong, who chairs the National Social Security Fund board, as a new director on the MTN Uganda board. The addition brings institutional investment experience into the telecom's governance structure at a moment of strong market performance.
MTN Uganda's share price tells its own story. The stock traded at Shs312 in November 2025. By February 2026, it had climbed to Shs428. In March, it reached Shs470. That is a gain of Shs158 per share in roughly four months and one of the sharpest rallies on the Uganda Securities Exchange in recent memory.
The numbers behind that rally matter. NSSF holds a 10.7 percent stake in MTN Uganda, equivalent to 2,629,607,810 shares. At Shs470 per share, that holding is now worth approximately Shs1.236 trillion. Between November and March, NSSF's investment grew in value by about Shs415.48 billion.
Mbire holds a 4 percent stake in MTN Uganda, equivalent to 895,561,810 shares. At the current market price, his holding is valued at approximately Shs420.39 billion. Since November, that figure has increased by about Shs141.5 billion.
Shareholders credited the leadership team with maintaining market dominance in voice and data services, expanding digital offerings and delivering consistent financial results. MTN Uganda remains the country's leading telecom operator in both mobile voice and internet services.
Mbire's renewed mandate extends his oversight of strategic direction, investor relations and long-term growth. Ogong's addition brings a second layer of institutional experience to a board overseeing one of Uganda's most closely watched listed companies.
The 99 percent vote said everything shareholders needed to say.
