Uganda’s National Social Security Fund (NSSF) is to acquire 10.55% of the total shares outstanding of Airtel shares in the ongoing Initial Public Offering (IPO) for a consideration of UGX199 billion (USD53 million), the two entities have announced. ‘The investment reflects the confidence that the NSSF has in the telecommunications sector, the prospects of the Company and the quality of its management team. The Fund’s investment in Airtel gives an opportunity for millions of NSSF members to own part of a successful company in a fast-growing sector known for innovative services,” NSSF’s Managing Director, Patrick Ayota and AIrtel’s Manoj Murali…
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