Four hours before the closure of the Airtel’s initial public offering, as the telco struggled to get investors or make a third extension to hit the target of selling at least 20 percent of the floated stock, National Social Security Fund (NSSF) Uganda bought over 50 percent of the eight billion shares.

Buildings material company Uganda Clays swung to a first-half loss in the first six months of the year as “frequent machinery breakdown[s]” dented production and resulted in lower sales.

British American Tobacco Uganda (BATU) said Friday that first half net profit fell 2.1 per cent from a year earlier, due to a decline in sales.

Airtel Uganda will offer free shares to investors participating in its Sh31.3 billion initial public offer (IPO) which opened on Wednesday, in an effort to spur uptake of the shares.