Airtel Africa Joins FTSE 100
Today, index manager FTSE Russell announced that Airtel Africa Plc will be joining the FTSE 100 on Monday 31 January 2022, according to a statement from the telecom company.
Airtel Africa share price has maintained an uptrend after its share buyback last year, now the second-largest listed company in Nigeria by market valuation after a 10% share price gain on Wednesday.
With operations spanning 14 African markets, the Group floated on the London Stock Exchange in June 2019 and has since demonstrated significant growth in its customer base, revenues, profits, margins, and cash generation, as well as strengthening its balance sheet through reduced leverage.
The Group continues to execute its growth strategy to deliver on the significant market potential afforded by the demographics and market dynamics across voice, data and mobile money services.
“We continue to invest in our infrastructure and distribution networks across the countries where we operate, supporting their economies and communities.
“Sustainability is at the core of our strategy, driven by our guiding purpose of ‘Transforming lives’ across Africa, with people, businesses and governments seeking access to more and better connectivity and improved financial inclusion”.
Speaking to this, Segun Ogunsanya, Chief Executive Officer, Airtel Africa, said, “I am immensely proud that Airtel Africa will be joining the FTSE 100 only two and a half years after we listed on the London Stock Exchange.
This achievement has been on the back of all the hard work and success achieved by everyone at Airtel Africa. We look forward to growing the Company further as we continue to sustainably bridge the digital divide, expand financial inclusion and meet the evolving needs of our customers.’’