
LLB @MakerereLaw. FMVA® & FPWMP® Certified by @CFI_education Msc. in Tech & Innovation @NotreDame Co-founder: https://teapawt.net/t.co/NFEaiBxED5 About Me: https://teapawt.net/t.co/OzqGHV9TRy
Notre Dame, IN
Joined May 2014
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I am writing this with a full heart. Having studied Law at @MakerereLaw and the Bar course at @LDC_Uganda, I wanted more beyond the confines of legal practice, I wanted to build the world I wished for. I was fortunate to be admitted into @NotreDame on scholarship.
Fast forward, over the weekend, I graduated with a Master of Science in Engineering, Science & Technology Entrepreneurship from the @NotreDame with a GPA of 3.84 out of 4.0. In addition, I completed two professional certifications at the @CFI_education: Financial Modeling & Valuation Analysis (FMVA), where I scored 100% in 3 exams and averaged 90% overall, and the Financial Planning & Wealth Management Professional (FPWMP)certification, where I scored 100% in 2 exams and averaged 94% overall.
In a special way I'd like to thank @Maria_Nakalanda, @Uwihanganye_A, and my parents for the support and guidance they gave me throughout the course of my studies. You believed in me on the days I found it hard to believe in myself, and that made all the difference.
To everyone who has been part of this journey in any way especially the @LeoAfricaInst network, thank you. I do not take any of it for granted.
And yeah! Will be graduating from @LDC_Uganda next month with a Postgraduate Diploma in Legal studies too
#GoIrish☘️ – at Notre Dame, IN
Busulwa John Ivan retweeted
Yes sirrrrr! Will read this on the Substack tonight with a capatii ☕️
MTN Group Deep Dive
One of the other surprising figures I have come across in analyzing the performance is of @MTNGroup is the performance of Mobile Money in Uganda. Uganda's MTN momo users are 3.1x more than Nigeria, despite Nigeria having 3.5x more subscribers than Uganda
For Context
Nigeria has 94.7 Million MTN customers, Uganda has 26.4 Million MTN Customers
However, Uganda has 15.5 Million MTN Momo users while Nigeria has only 5 Million.
In fact, even Rwanda has more MTN Momo users at 6.5 Million users, 1.5 Million more than Nigeria.
So what does this mean for Uganda investors in MTN Uganda? Once the structural separation of MTN Momo from MTN Uganda is effected, you'll only have a minority stake in the Mobile money arm of about 23.985%, the other 76.015% will move to MTN Group Fintech Holdings B.V
Figures as of Q3 2026
Ugandan Legal practice will be the last profession AI will replace.
No doubt AI immensely increases productivity but it's still far from replacing junior lawyers
MTN Group Deep Dive
One of the other surprising figures I have come across in analyzing the performance is of @MTNGroup is the performance of Mobile Money in Uganda. Uganda's MTN momo users are 3.1x more than Nigeria, despite Nigeria having 3.5x more subscribers than Uganda
For Context
Nigeria has 94.7 Million MTN customers, Uganda has 26.4 Million MTN Customers
However, Uganda has 15.5 Million MTN Momo users while Nigeria has only 5 Million.
In fact, even Rwanda has more MTN Momo users at 6.5 Million users, 1.5 Million more than Nigeria.
So what does this mean for Uganda investors in MTN Uganda? Once the structural separation of MTN Momo from MTN Uganda is effected, you'll only have a minority stake in the Mobile money arm of about 23.985%, the other 76.015% will move to MTN Group Fintech Holdings B.V
Figures as of Q3 2026
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busulwa.com
The best thing that can happen to anyone as a young professional is a good mentor.
Can't imagine the number of mistakes and errors I would have made if I didn't have anyone to hold my hand and show me the way.
😂😂😂😂😂Sebbo @LuoboyOllo 2012 in P5?? Yet I was in Form 2 in 2013 when you were already working on WBS
I can't forget because I used to watch your show🙄🙄🙄🙄
I knew at one point I wanted to start a Finance Newsletter but I struggled to find a niche.
In brainstorming my ideas, I wrote a number of articles on areas in finance that interest me. All those articles will never get published and the reason has nothing to do with their quality.
I just discovered that writing about Africa's public Equities was a better fit for me.
One of the ideas I explored for Newsletter was explaining how I apply finance concepts my other aspects of life. The goal was to explain complex finance terms to an ordinary person using examples they relate with.
One of the articles in that limbo was about how find the perfect partner by applying the principles in Discounted Cashflow (DCF) Analysis.
I was so interesting that it forced me to think how to explain DCF Analysis using love.
Hence the term Discounted Cashflow Dating😂😂😂😂
Photo below was the Cover image intended for the Article had it been published
Busulwa John Ivan retweeted
Replying to @realjohnivan
The first time I discovered you here on X as Ivan Busulwa, I checked the profile picture, and it wasn’t my dear friend that know by those names, I was awed.
Busulwa John Ivan retweeted
So how can we hit the Ghana exchange sir? 😆
.@griffarinaitwe, run some numbers in preparing for this week's article, and turns out my guess right.
MTN Ghana leads on various benchmarks, though MTN Nigeria leads on Revenue and Subscribers which is understandable given Nigeria's demography.
Looking at the 9 months reports from Ghana, Nigeria, Rwanda and Uganda, I can already guess what the answer to my question is.
.@griffarinaitwe, run some numbers in preparing for this week's article, and turns out my guess right.
MTN Ghana leads on various benchmarks, though MTN Nigeria leads on Revenue and Subscribers which is understandable given Nigeria's demography.
Looking at the 9 months reports from Ghana, Nigeria, Rwanda and Uganda, I can already guess what the answer to my question is.
I am doing some analysis on Uganda Telecom sector specifically Airtel and MTN.
I have had to read and compare @UCC_Official 's quarterly Market reports.
It seems like there's an inconsistency in UCC's reports vs the performance of MTN and Airtel as reported in their earnings and annual reports
For example; in one of the reports by UCC, it mentions industry revenue was down by 3% yet in that same quarter MTN and Airtel revenues grew by about 11%
Bear in mind MTN & Airtel control about 99% of the market.
Not only that, but figures in UCC's Market reports on internet traffic as well.
I was hoping to find some helpful information but I think it's better to stick to MTN and Airtel financials.
Busulwa John Ivan retweeted
Replying to @realjohnivan
Bro, the day I landed on your first video I got inspired. You really manifested something I have been thinking about. Asante sana Mr Ivan.
Busulwa John Ivan retweeted
Replying to @realjohnivan
Not together but on their own… like you have met other Busulwas and other Johns💀
Busulwa John Ivan retweeted
Replying to @realjohnivan
He was my classmate. Both names are common 😅😅 so it makes sense that they get joined here and there.
I thought I was the only Ivan Busulwa. I had never met any other in my entire life 😂😂😂😂
Today I've found another one. Turns out he's a lawyer too🙌🙌😂😂😂
Small world!!!
🎥 Ugandans don’t like too much English.
Ask the man who wrote three books in it. 😂
Magistrate Ivan Busulwa spends his days in court. Then he goes home and writes books, including Man in a Simple White Dusty Probox and The Carpenter From Kisoro.
In this #VoiceInPrintPodcast with @GodwinTOKO , he talks about:
1. How a magistrate became an author
2. The story-board concepts behind his three books
3. Whether Ugandans reads at all
4. How to write for people who want plain talk
Tune in at 6PM EAT: youtu.be/veIUVou4zaI
#CEPAProgramming #VoiceInPrintPodcast
Busulwa John Ivan retweeted
My O'Level math D1 , won't let me value MTN at 4x SBU😃 . No one can even convince me to buy MTN at 300 UGX. Wake me up at 250 UGX! 📉 #UGX 🤣 😂😂😂😂😂😂





















