JULIUS MUHUMUZA

National Social Security Fund (NSSF), a multi-trillion fund mandated by the government of Uganda to provide social security services to employees in the Private Sector, has made a share profit of 39.8 billion from its Investment with MTN for the year that ended 31st December, making it 80.6 share profits for the last 3 years.

According to Patrick Ayota, Managing Director NSSF, the payment is the largest the Fund has earned from a listed company in the region this year

MTN Uganda presented a dummy check to NSSF valued at 39.8 billion Shillings as their share of profits for the fiscal year that ended on December 31, 2023, following their investment in MTN Uganda.

This contribution has brought the total share profits earned by NSSF from MTN Uganda in the past three years to 80.6 billion shillings.

Patrick Ayota, the Managing Director of NSSF, expressed that this payment marks the highest amount the Fund has received from a listed company in the region this year.

Ayota adds that that the Fund earned 9.3 billion shillings and 31.5 billion shillings share profits for the years 2021 and 2022 respectively

the Chief Executive Officer of MTN Uganda Sylvia Mulinge noted that NSSF Uganda is the largest institutional shareholder and MTN remains committed to serving many Ugandans with a stake in NSSF.

She adds that MTN Uganda continues to perform positively and consistently returning dividends to its shareholders.

Mulinge also points out that following the initial public offering in December 2021, the cumulative dividends distributed to shareholders amount to 864.4 billion Uganda shillings, with these dividend payments increasing in line with the company's progress.