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Airtel Africa to join FTSE on January 31

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Bharti Airtel subsidiary Airtel Africa will join the Financial Times Stock Exchange (FTSE) 100 on January 31, 2022.

The carrier began operations in 2010 and listed on the London Stock Exchange in 2019, achieving market capitalisation of over $7.5 billion with enterprise value at $10.7 billion.

The company says it serves over 122 million people across 14 African markets in which it operates.

“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.”

Airtel Africa says it continues to execute its growth strategy to deliver on its market potential afforded by demographics and market dynamics across voice, data and mobile money services.

The company has enjoyed a “stellar” turnaround under Raghu Mandava, who previously worked at Bharti and has spent the last five years at Airtel Africa.

Segun Ogunsanya, CEO of Airtel Africa added:  “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.’’

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