Airtel Uganda Pays UGX 50.3 billion dividend to NSSF

KAMPALA, Uganda – Airtel Uganda, a major telecommunications and mobile money provider, presented a dividend check of 50.3 billion Ugandan shillings ($13.5 million) to the National Social Security Fund (NSSF) on Friday, reflecting the fund’s strategic investment in the company.

The significant payout follows NSSF’s acquisition of a 10.5% stake in Airtel Uganda during the company’s initial public offering (IPO) in 2023, making it the second-largest shareholder.

Airtel Uganda’s IPO, which offered 8 billion ordinary shares representing 20% of its equity at 100 shillings per share, aimed to raise 800 billion shillings but secured 211.4 billion shillings. The listing marked Airtel as the second telecom company on the Uganda Securities Exchange and attracted 4,614 new shareholders.

Som Soumendra, Airtel Uganda’s Managing Director, stated the dividend handover fulfills a promise to shareholders and signifies collaboration in building a stronger economy. “This dividend handover reflects how Airtel Uganda and NSSF are building a stronger economy, empowering workers, supporting families, and contributing to Uganda’s growth,” Soumendra said. He added that Airtel is prepared to support NSSF’s Vision 2035 to expand assets, double coverage, and enhance customer satisfaction.

Patrick Ayota, NSSF Managing Director, welcomed the dividend as a return on members’ savings. “Our investment in Airtel Uganda is aligned with our strategy to diversify our portfolio and secure profitable returns for the benefit of our members,” Ayota said. He emphasized that the return “reinforces our decision and demonstrates the value of investing in strong, well-managed local companies. This income will be duly credited to our members.”

Soumendra praised NSSF’s “forward-thinking approach, trust, and professionalism,” which he said contributed to the growth of Uganda’s savers’ fund. He reiterated Airtel’s commitment to delivering reliable and affordable connectivity.