Airtel Africa has been admitted to the FTSE 100 effective Monday (January 31).
FTSE Russell is a subsidiary of the London Stock Exchange Group that produces, maintains, licenses, and markets stock market indices. The division is notable for FTSE 100 Index, Russell 2000 Index, among other indices.
FTSE Russell made the announcement on Friday.
Through its mobile telecoms and mobile money services, Airtel Africa plc prides itself on 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 recorded significant growth in its customer base, revenues, profits, margins, and cash generation, as well as strengthening its balance sheet through reduced leverage.
According to management, 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,” the firm said in a statement.
“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,” it added.
Airtel Africa CEO Segun Ogunsanya 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.”
