By Dipo Olowookere
One of the leading telecommunications service providers on the continent, Airtel Africa Plc, will be joining the elite club of the London Stock Exchange (LSE), the Financial Times Stock Exchange (FTSE 100) index.
The FTSE 100 index, which is fondly called Footsie, is a share index of the 100 companies listed on the LSE with the highest market capitalisation.
According to a statement, Airtel Africa, which is also listed on the Nigerian Exchange (NGX) Limited, will join the FTSE 100 on Monday, January 31, 2022.
The CEO of Airtel Africa, Mr Segun Ogunsanya, described this feat as a welcome development, saying, “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,” he further said.
Business Post reports that Airtel Africa was listed on the LSE 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. This has been increasingly recognised by the market.
The group continues to invest in further execution of its growth strategy to deliver on the significant market potential afforded by the demographics and market dynamics across voice, data and mobile money services.
It has also continued to invest in infrastructure and distribution networks across the countries where it operates, supporting economies and communities of the host countries.
Sustainability is at the core of its strategy, driven by its guiding purpose of Transforming lives across Africa, with people, businesses and governments seeking access to more and better connectivity and improved financial inclusion.
Airtel Africa, through its mobile telecoms and mobile money services, is transforming the lives of over 122 million people across the 14 African markets in which it operates.
Adedapo Adesanya