Airtel Africa to Buyout Nigeria Minorities Stake at ₦55.81 Per Share

A picture taken on February 17, 2015 shows the headquarters of Kenya’s Airtel, one of the leading phone, internet and money transfer company in the country. AFP PHOTO/SIMON MAINA (Photo by SIMON MAINA / AFP)

Airtel Africa Plc’s subsidiary, Airtel Nigeria, announced that it has begun the process of repurchasing an 8.27 per cent minority stake at a price of ₦55.81 per share.

In a statement on Monday, the Group Company Secretary, Simon O’Hara, noted that the total consideration was estimated to be ₦61.24 billion (using an exchange rate of ₦413.38) assuming all minority shareholders decide to tender their shares.
It said: “This represents an open offer to all shareholders. A further announcement will be made in due course.”

Airtel Africa is a leading provider of telecommunications and mobile money services, with a presence in 14 countries in Africa, primarily in East Africa and Central and West Africa.

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It offers an integrated suite of telecommunications solutions to its subscribers, including mobile voice and data services as well as mobile money services, both nationally and internationally.

The group aims to continue providing a simple and intuitive customer experience through streamlined customer journeys.

Airtel Africa Plc’s revenue from Nigeria increased 13.1 per cent in reported currency in the fiscal year ending March 31, 2021, offsetting a 10% (YoY) devaluation of the Naira and remaining at 21.9 per cent. Currency growth is anticipated. In the fourth quarter of 2009, reported currency returns increased by 12%, while constant currency returns increased by 22.9 per cent.

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This year, voice revenue increased by 13.9 per cent. This was due to a 0.5 per cent increase in customer base and a 2.9 per cent increase in average revenue per voice (ARPU), which was supported by a 12.4% increase in voice usage per customer. The continued expansion of our distribution and network infrastructure, as well as a slowdown in customer base growth in the second half of the year due to the new “Know-Your-Customer” (KYC) requirements in Nigeria, support customer base growth.

Voice revenue increased 12.9 per cent in constant currency in the fourth quarter of 2009, while voice ARPU increased 7.5 per cent, owing primarily to increased voice usage per customer.

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