The London Stock Exchange (LSE) has announced that Airtel Africa Plc will be joining the FTSE 100 (Financial Times Stock Exchange) index.
The FTSE 100 Index comprises of the 100 most highly capitalised blue chip companies, representing approximately 81 per cent of the UK market. It is used extensively as a basis for investment products, such as derivatives and exchange-traded funds.
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 will be joining the FTSE 100 index on January 31, 2022. The group 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.
The CEO of Airtel Africa, Segun Ogunsanya stated that, “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.”
He 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.”
Airtel Africa, a telecommunications and mobile money services, with a presence in 14 countries in Africa, primarily in East Africa and Central and West Africa.