Ugandans invited to buy shares in Airtel

Officials from Airtel Africa have told President Yoweri Museveni that they are open to the people of Uganda investing & buying shares in the telecom company. “Anyone can participate in buying shares at Airtel,” Dennis Kakonge, Airtel Uganda Company Secretary, told the President.

Kakonge was part of a delegation from Airtel Africa that paid a courtesy call on President Museveni on Friday at Nakasero State Lodge in Kampala. The Delegation was led by Segun Ogunsanya, the CEO of Airtel Africa.

Airtel Uganda is yet to list on the Uganda Stock Exchange (USE) after it recently sought an extension to avoid rushing a process with important consequences for Uganda and maximise preparation.

Airtel’s main competitor, MTN Uganda recently listed on the stock exchange through an Initial Public Offer (IPO) in December 2021.

Meanwhile, Ogunsanya praised President Museveni and the NRM government for ushering in peace to the country and creating a conducive environment for businesses including the communications sector to thrive.

“Your Excellency, we have come just to thank you for the good business environment that has enabled us to thrive in Uganda,” the CEO of Airtel Africa said.

Ogunsanya told President Museveni that Airtel Uganda has a huge number of subscribers totalling 14 million people and makes an annual profit of $ 600 million. He said Airtel pays $ 190 million in the form of taxes to the government coffers.

President Museveni was delighted with Airtel’s appreciation of the NRM’s efforts in ushering peace to Uganda. “That is very good because gratitude is not common,” he said.

The President likened the gesture to the biblical 10 lepers whom Jesus healed and only one of them returned to appreciate the miracle performed by Jesus.