The majority shareholder in Airtel Africa, Bharti Airtel, has acquired an additional 4.45 percent stake in Airtel Africa. This additional stake is valued at about N352.8 billion, based on Airtel’s share price of N2,156.

Through the acquisition, which was completed on Monday, February 24, Bharti Airtel’s stake in the African telecoms giant has increased from 57.293 percent to 61.745 percent. According to a corporate disclosure on the NGX website, the stake is held by Airtel Africa Mauritius Limited, an SPV owned by Bharti Airtel.

The Indian group acquired 163,580,582 new shares of Airtel Africa. Taking into consideration the cancelled shares due to the share buyback, Bharti’s stake moved from 57.06 percent to 57.293 percent between December 16 and February 24.

In 2025, Airtel Africa’s share price has remained unchanged on the Nigerian Exchange. However, on the London Stock Exchange, the stock has advanced by 24 percent year-to-date. The movement in the share price on the LSE was a reaction to Airtel’s 9M 2024 performance.

The group posted a net income of $248 million in the nine months ending December 31, 2024.

Bharti Airtel’s move further underscores the group’s confidence in Airtel Africa’s growth prospects. It is also in line with the share buyback program that began in March 2024. (BusinessDay)