African markets

Airtel Africa joins the FTSE 100 index

Index manager FTSE Russell has announced that Airtel Africa plc (NGX:AIRTELAFRI, LSEG: AAF) will join the Financial Times Stock Exchange 100 Index (FTSE 100) on Monday, January 31, 2022.

Through its mobile telecommunications and mobile money services, Airtel Africa plc is transforming the lives of more than 122 million people in the 14 African markets in which it operates.

The Group was listed on the London Stock Exchange in June 2019 and has since seen significant growth in its customer base, revenue, profit, margins and cash generation, as well as a strengthening of its balance sheet thanks to reduced leverage.

The Group continues to execute its growth strategy to take advantage of the significant market potential offered by the demographics and market dynamics of voice, data and mobile money services.

“We continue to invest in our infrastructure and our distribution networks in the countries where we operate, supporting their economies and communities. Sustainability is at the heart of our strategy, guided by our guiding objective of ‘Transforming Lives’ at across Africa, with people, businesses and governments looking to access more and better connectivity and better financial inclusion,” commented Segun Ogunsanya, CEO of Airtel Africa.

“I am extremely proud that Airtel Africa is joining the FTSE 100 just two and a half years after our listing on the London Stock Exchange.

This achievement is the result of all the hard work and success of everyone at Airtel Africa. We look forward to continuing to grow the company as we continue to sustainably bridge the digital divide, expand financial inclusion, and meet the evolving needs of our customers.”

TZ Daily News