By Mark Kawalya
Airtel Africa, a subsidiary of Bharti Airtel, joined the Financial Times Stock Exchange (FTSE) 100 on January 31, 2022. Having commenced operations in 2010, and listed on the London Stock Exchange in 2019, and has experienced tremendous growth in its client base, revenues, profits, as well as posted strong balance sheets.
The group has more than 122 million subscribers that use its mobile telecom and mobile money services across 14 African markets, including Uganda. The business entity continues to leverage its expansion strategy to tap into the significant markets afforded by the demographics of a largely young population that is spread across the African continent. This is mainly through the entity’s mobile money, voice and data services.
Airtel Africa continues to boost its infrastructure and mobile networks across the various countries that its operates in, fostering growth in their economies and improving livelihoods. A key ingredient of the group’s strategy is sustainability which is driven by their core purpose of “Transforming lives” in Africa by ensuring better connectivity for governments, people, and businesses and improving financial inclusion.
“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,” said CEO of Airtel, Segun Ogunsanya.
He added that the hard work and dedication of everyone at Airtel Africa has paid off and the group looks forward to growing further as they continue to bridge the wide digital divides that exist in many African countries.
“This is a significant milestone for Airtel Africa, which becomes part of the FTSE 100 in just two and a half years of listing on the London Stock Exchange, joining the most valuable companies,” said Sunil Bharti Mittal, chairman of Bharti Airtel. “Airtel Africa is a strong player in the African continent, which has emerged as the next growth frontier globally,” he added.
He noted that the firm will continue investing aggressively and implement a growth strategy under Segun Ogunsanya, who recently joined the company to strengthen Airtel’s position as a global brand to reckon with in Africa.
For the duration of the half-year that ended September 30, 2021, Airtel Africa’s revenue had grown by 25.2% to $2.27 billion, registering double-digit growth across all regions. Net profit had more than doubled to $335 during this time period, while leverage had decreased to 1.5 times from 2.2 times the previous year.