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    JAMB sets 150 as cut-off mark for 2025/2026 university admissions

    WAEC releases 2025 WASSCE results, how to check yours

    President Buhari commissions the new US$100m Ultra-modern MMIA Terminal

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    Conoil Plc reports 88.8% drop in profit to N900 million in H1 2025

    Brent crude oil price rise above $70 on OPEC projections

    OPEC+ agrees to increase oil production for September

    Nigeria to concession Enugu, Port Harcourt and three other airports

    Federal Government approves 30-year concession for Enugu Airport

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    NERC has no authority over state tariff – Enugu Electricity Regulator

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    Breaking: US and EU agree trade deal

    Federal Government commissions three “ultra-modern” oncology centers

    Federal Government commissions three “ultra-modern” oncology centers

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    “CBN plans to shut down financial transactions” – Apex Bank warns of fake news

    CBN’s Monetary Policy Committee retains interest rate at 27.50%

    President Tinubu approves establishment of South-East Investment Company

    President Tinubu approves establishment of South-East Investment Company

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    UK tightens visa rules for care workers, skilled workers and students

    United States scraps visa dropbox service for Nigerian applicants

    President Donald Trump cancels protection for 500,000 Haitian migrants

    Spain golden visa scheme ends as Portugal and Greece demand increases

    Spain golden visa scheme ends as Portugal and Greece demand increases

    CBN fines nine banks 150 million Naira each for failing to dispense cash

    CBN ends free ATM withdrawals for other banks’customers

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    FG increases private university application fee from N5m to N25m

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    United States scraps visa dropbox service for Nigerian applicants

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    Buhari says Nigeria security and economy improved during his tenure

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    • Companies
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    Oando Plc appoints new Chief Compliance Office and Company Secretary

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Airtel Africa Plc to list subsidiary on the Ugandan Securities Exchange

Wednesday, 9 August 2023, 8:14 pm
in Business, Companies
0
Dangote Cement and Airtel Africa Plc push Nigerian Stock Market to 0.21% gain
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Airtel Africa Plc (NGX: AIRTELAFRI) has announced that its wholly owned subsidiary in Uganda (Airtel Uganda Limited) intends to publish a prospectus and float shares on the main investment segment of the Uganda Securities Exchange.

Also read; MTN Nigeria creates 641 million new ordinary shares

In a publication on Wednesday by the telecommunications and mobile money services provider, with a presence in 14 countries across Africa, it stated that Airtel Uganda Limited intends to proceed with an initial public offer of 8,000,000,000 ordinary shares, representing 20% of Airtel Uganda Limited.

It went further to state that the prospectus will be published following the approval of the Capital Markets Authority of Uganda (CMA).

The offer is expected to result in meaningful local ownership of Airtel Uganda Limited, with preference to be given to Ugandan investors, and to contribute to the development of the capital markets in Uganda. Following approval of the Prospectus by the CMA, the shares will be offered to retail investors via Airtel Money’s platform, in addition to traditional channels, in an effort to increase retail participation.

Under Article 16 of Uganda’s National Telecom Operator (NTO) licence, Airtel Uganda Limited is required to list at least 20% of its shares on the Uganda Securities Exchange. Airtel Uganda’s principal regulator, the Uganda Communications Commission has set a deadline of 16 December 2023 for meeting this requirement to list.

Absa Bank Uganda Limited have been appointed as Lead Transaction Advisor, Crested Capital as Lead Sponsoring Broker, Katende Ssempebwa and Company Advocates as the Legal Advisor, and EY as the Reporting Accountant.

Airtel Africa Plc’s annual financial report for the 2023 year ended 31 March 2023, shows that the group earned a revenue of US$1.50 billion from the East Africa business region which includes Kenya, Malawi, Rwanda, Tanzania, Uganda and Zambia.

Uganda’s business region thus contributed 28.56% of Airtel’s US$5.25 billion revenue in the year.

About Airtel Africa

Airtel Africa is a leading provider of telecommunications and mobile money services, with a presence in 14 countries in Africa, primarily in East Africa and Central and West Africa.

Airtel Africa offers an integrated suite of telecommunications solutions to its subscribers, including mobile voice and data services as well as mobile money services both nationally and internationally.

The Group aims to continue providing a simple and intuitive customer experience through streamlined customer journeys.

www.airtel.africa

Nnamdi Maduakor
Nnamdi Maduakor

Nnamdi Maduakor is a Writer, Investor and Entrepreneur

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