The 23rd Annual General Meeting (AGM) of BAT Uganda sitting on Friday, 6 July 2023 approved Shs10.3 billion (Shs209 per share) as a first and final dividend for the year ended 31st December 2022.

The shareholders of BAT Uganda will receive the dividend payment on 1st August 2023 after statutory deductions.

Mathu Kiunjuri, the Managing Director of BAT Uganda said business was solid but being threatened by illicit trade. “During 2022, the incidence of illicit cigarettes saw a spike, from 23.8% in December 2021 to 29.4% in the same period in 2022. The consequent shrinkage of the legitimate market significantly impacts the sustainability of government and industry revenues,” he said.

Kiunjuri revealed that government loses an estimated Shs30 billion annually to the illicit cigarette trade. He said illicit cigarettes are being either misdeclared for export but find their way back into the local market or smuggled in from neighbouring countries and beyond.

Uganda is also increasingly becoming a source of illicit cigarettes in regional markets such as Kenya, he added.

“Additionally, we continue to witness rampant non-compliance with the Tobacco Control Act, 2015 with unscrupulous traders selling cigarettes without the mandated graphic health warnings as well as the sale of flavoured cigarettes, he said.

BAT Uganda Chairman, Dr. Elly Karuhanga expressed delight to mark 95 years since BAT started operations in Uganda.