Zambia's largest telecom operator MTN Zambia now plans to list on the Lusaka Stock Exchange (LuSE) in order to comply with its local licence conditions.
The move follows fears that the country's regulator, the Zambia Information and Communication Technology Authority (ZICTA) might impose sanctions on the company for failing to comply with the regulation.
ZICTA regulation compels foreign-owned telecom companies to have 10% of shares held by Zambians through the stock exchange
MTN is, to date, the only foreign owned mobile phone operator in the country yet to comply.
