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HomeBusinessAirtel Africa joins FTSE 100

Airtel Africa joins FTSE 100

By John Chola.

Index manager of Financial Times Stock Exchange – FTSE – Russell has announced that Airtel Africa plc has today, Monday 31 January 2022, joined the FTSE 100.

The Financial Times Stock Exchange (FTSE) Group is a financial organisation that specialises in the management of asset exchanges and creating index offerings for the global financial markets.

The London Stock Exchange (LSE) currently owns FTSE.

Airtel Africa CEO, Segun Ogunsanya, made the announcement adding that through its mobile telecoms and mobile money services, Airtel Africa plc is transforming lives of over 122 million people across the 14 African markets in which it operates.

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.

Ogunsanya said the Airtel 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,” Ogunsanya said.

Airtel Africa joins the FTSE 100 only two and a half years after its listing on the London Stock Exchange, an achievement Ogunsanya is immensely proud of.

He said this achievement had 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,’’ added Ogunsanya.

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