Uganda, May 31 -- MTN has paid National Social Security Fund (NSSF) Shs31.48b in dividends for its investment in one of Uganda's telecom.

The payment, NSSF said, is the single largest dividend it has received out of its investments in equities.

NSSF in 2021, during MTN's Initial Public Offering bought 1.98 billion shares worth Shs360b, making the Fund the second largest shareholder in MTN.

Speaking in Kampala during a ceremony to handover the payment, Mr Patrick Ayota, the NSSF acting managing director, said the earnings affirm the Fund's decision to invest in MTN given its performance track record and market leadership.

"MTN has high margins, which have contributed to attractive returns on invested capital," he said, noting MTN was N...