Airtel Africa to join FTSE100 Jan. 31

Index manager, Financial Times Stock Exchange Russell (FSTE Russell) (or the London Stock Exchange) has announced that Airtel Africa Plc. will be joining the FTSE100 index on Jan. 31.

The Chief Executive Officer, Airtel Africa, Mr Segun Ogunsanya, disclosed this in a statement made available to our correspondent on Thursday in Lagos.

Ogunsanya said that through its mobile telecoms and mobile money services, Airtel Africa was transforming lives of over 122 million people across the 14 African markets in which it operates.

According to him, the group floated on the London Stock Exchange in June 2019, and has since demonstrated significant growth in its customer base.

He said the group had also recorded growth in its revenues, profits, margins, and cash generation, as well as strengthening its balance sheet through reduced leverage, which has been recognised by the market.

He added that the group had continued 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.

“We continue to invest in infrastructure and distribution network 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.”

“I am immensely proud that Airtel Africa will be joining the FTSE100 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.,” the Airtel Africa boss, said.