Soumendra Sahu, Airtel Uganda’s Managing Director hands over a dummy cheque to NSSF’s boss, Patrick Ayota
HABARI DAILY I Kampala, Uganda I Investment decisions of the National Social Security Fund (NSSF) has started paying off, yielding value for its clients and shareholders.
This was depicted when Airtel Uganda paid a dividend of Shs 50.31 billion to NSSF for its investment made during Airtel’s initial public offering in 2023.
This payment underscores NSSF’s confidence in Airtel, where it holds a 10.5% stake, making it the second-largest shareholder.
The event additionally highlighted Airtel’s commitment to shareholder value and its contribution to Uganda’s economic growth, showcasing the benefits of investing in well-managed local companies.
Speaking during the handover of the cheque, Patrick Ayota, the NSSF Managing Director hailed Airtel for being a thrifty investor who has soundly contributed to creating connectivity among Ugandan communities.
Soumendra Sahu, Airtel Uganda’s Managing Director said that the payment is both a sign of how healthy Uganda’s economy is.
“We have strived to protect our shareholder value, and NSSF is one of them,” he said.
He additionally said that this gesture also represents the confidence the NSSF Uganda has in Airtel Uganda.
In November 2023, Airtel Uganda listed 4.36 billion shares on the Uganda Securities Exchange (USE) after attracting 4,614 investors in its initial public offering.
