The National Social Security Fund (NSSF) in Uganda has applied to acquire a minimum of 10.5 percent of shares in Airtel Uganda. As per the Fund’s statement, they intend to invest Shs199b in the telecom shares through the current Initial Public Offering (IPO).
The Fund joins the Kingdom of Buganda in purchasing shares, expressing confidence in Uganda’s telecommunication sector and the prospects of Airtel Uganda.
Airtel Uganda plans to offer up to 20% of the company to the public via the IPO, subsequently listing on the Uganda Securities Exchange (USE).
Both NSSF and Airtel Uganda are committed to advancing the Ugandan Capital Markets and fostering widespread equity ownership to facilitate investor participation in the country’s growth and development.
Airtel Uganda has announced an increase in its incentive share structure, aiming to attract more investors and allocate a larger share to Ugandan stakeholders.
Managing Director Manoj Murali expressed the company’s excitement for the revised incentive program, highlighting the company’s dedication to the local community and shareholders.