In a busier day for corporate news, MTN announced the sale of a chunk of its Ugandan unit, and it was announced the Ackerman family will finally give up control at retail giant Pick n Pay. In international news, Elon Musk's xAI has secured some hefty new funding as is planning a"gigafactory of compute" to train artificial intelligence models.announced on Monday it was looking to sell about a 7% stake in MTN Uganda for about R1.
During the initial public offering in October 2021, the Ugandan Stock Exchange had granted a waiver for a free float of only about 13%, but MTN said it wants to provide an opportunity to Ugandan retail and professional investors, including MTN Uganda's loyal customers, to own a stake in the company and participate in its future growth.South Africans need to be in the know if we want to create a prosperous future.