The index manager at FTSE Russell has announced that Airtel Africa plc will be joining the Financial Times Stock Exchange (FTSE) 100 on Monday 31 January 2022.
Through its mobile telecoms and mobile money services, Airtel Africa plc aims at transforming the 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.
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”, the group said in a statement.
“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”, commented Segun Ogunsanya, CEO, Airtel Africa.
“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 concluded.
Airtel Africa is a leading provider of telecommunications and mobile money services, with a presence in 14 countries, primarily in East Africa and Central and West Africa.
It serves a large and fast-growing addressable market, with attractive mobile data and mobile money growth prospects as non-voice revenue remains lower than other geographies.
Each of the 14 markets the Company operates in demonstrates strong GDP growth potential, with young and fast-growing populations that are increasingly connecting to mobile networks. Airtel Africa is well positioned to further develop and expand its mobile services offering to address the changing market demands.