Airtel Plans To List In Uganda Stock Exchange By 2022 End

Airtel Uganda and India’s Bharti Airtel plan to list a part of its equity by the end of this year, the company announced. Airtel Uganda renewed its operating license in 2020, with one of the conditions for the new license being Airtel Uganda to list at least 20 per cent of equity on the local bourse.

“We will be listing in Uganda Stock Exchange most probably by December of 2022,” Airtel Uganda Managing Director, Manoj Murali said.

Airtel Uganda has about 10 million subscribers and is the second biggest operator after a unit of South Africa’s MTN Group, which has about 15 million subscribers. Airtel was launched in Uganda in June 2010 and is Uganda’s most innovative mobile phone operator, which has introduced many “firsts” in the telecommunications sector. As a mobile operator airtel introduced affordable communication products and services that have transformed millions of Ugandans and businesses.

CELTEL Uganda was the first telecommunication company in Uganda that was introduced in 1995 and transformed telephony by connecting people with the use of a mobile phone. In July 2007, CELTEL Uganda changed its brand name to ZAIN Uganda was eventually changed to Airtel Uganda in 2010, thus joining a family of over 361 million customers across its operations at the end of May 2016.

In May 2013, Airtel Uganda achieved a great success story having acquired Warid Telecom and growing to a family of over 8.9 Million customers, and being the 2nd largest telecom in Uganda