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MTN, Safaricom are NSSF’s biggest dividend earners 

Watchdog Uganda by Watchdog Uganda
2 years ago
in Business, National, News
4 0
MTN Uganda Chairman Charles Mbire

MTN Uganda Chairman Charles Mbire

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National Social Security Fund (NSSF) earned its shareholding in MTN than any other stock for the year ended June, the Fund’s annual report has reveled. The Report which highlights performance of the fund indicates tht MTN, Safaricom, Equity Group Holding, CRCD Tanzania, and National Microfinance Bank were the top earners for NSSF interms of dovidend income for the 2022/23 financial year.

During the period, NSSF earned shs 31b from the shareholding in MTN which was n increase from Shs 9.3b earned in the year ended June 2022. NSSF is the second largest shareholder in MTN holding a percentage stake of 8.84 percent.

The fund benefited from  the huge turnover posting in which MTN profits for the year ended 2022 rose to Ush 409b. Similarlary, NSSF’s dividend income from Equity Group Holdings rose to Ush 19b.from shs 14.1b. while shs 16.1b, sh 14b and sh 10.6b was earned from Safaricom,, CRDB Tanzania, Nationl Microfinance Bank respectively.

NSSF holds atleast12.51 percent of its investments in equities among which includes stocks and securities. Other Investents-78.4 percent and 9.01 percent are held in fixed assests ad real estates respectively.

During the period ended June, NSSF reported a 15.11 percent increase in revenue due to fixed income investments.from Ush 1.9 trillion to Ush 2.2 trillion. Revenue due to dividend income increased  by 45-42 percent to shs  145.12b from Ush 99.7b  in the year ended June 2022., registering the largest growth among the Funds investment vehicles. However, income due to real estate  slightly dropped to shs 11.94b from shs  11.97b while revenue from the fixed income rose to shs 2.04 trillion from shs 1.8 trillion. Revenue from the fixed income which grew by 13.57 percent remained NSSF’s largest source of revenue.

MTN is th only Ugandan Company among the top five with the rest being Equity Group Holdings, Safaricom, CRDB Tanzanaia and National Microfinance Bank.

Mr. Andrew Mwima, A Financial Markets Analyst said yesterday,  the Uganda Securities Exchange compared to markets such as Nairobi Securities Exchange is still less active given that it still has few listed companies.

 


Do you have a story in your community or an opinion to share with us: Email us at editorial@watchdoguganda.com
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Watchdog Uganda is a portal for solution journalism, trending news plus cutting edge commentaries in the fields of politics, security, business, tourism, entertainment, technology, agriculture, climate change, environment, public health et al. We also give preference to Ugandan community news and topical discussions. The portal also publishes community news and topical discussions.

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