Keith Kalyegira, the former Chief Executive Officer of the Capital Markets Authority (CMA), has been appointed to the Airtel Uganda board.

Airtel was listed on the Uganda Securities Exchange (USE) in November 2023.

Kalyegira’s term at CMA concluded last year after nearly 10 years.

Kalyegira’s appointment to the board was approved during the telecom’s first Annual General Meeting (AGM), which was held virtually. At the AGM, Suzan Mweheire was also appointed as a non-executive director.

Shareholders also approved a final dividend of sh2.5 per share for the year ending December 2023. Airtel's net profits of sh296b for the period ending December 2023 fell short of the projected sh457b presented to investors ahead of its initial public offering (IPO).

Airtel offered 20%, equivalent to 8,000,000,000 ordinary shares, to the public on the USE in November of last year.

The National Social Security Fund (NSSF) acquired a 10.55% stake in Airtel, representing sh199b, while retail investors held only 0.34% of the shares.

The Airtel IPO managed to meet and list 10.9% of the required 20% free float under the Broadband Policy 2018.