 of Airtel Africa has sold 666,174 shares worth £757,440 (N739 million)){kind=link}
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Olusegun Ogunsanya, the Chief Executive Officer (CEO) of Airtel Africa has sold 666,174 shares worth £757,440 (N739 million) to fund a real estate transaction.
“This sale of Ordinary Shares is to be used to fund a property purchase by Mr Ogunsanya. Following this transaction Mr Ogunsanya holds 4,325,282 Ordinary Shares in Airtel Africa,” Airtel Africa said.
Ogunsanya sold the shares at an aggregate price of £1.1137 per share on August 4th 2023 on the London Stock Exchange (LSE). Airtel Africa has a dual listing in London and Lagos.
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.
Airtel Africa 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, will be impacted negatively to the tune of $1.3 billion on its revenues and $740 million on EBITDA, over the next four quarters, due to a currency devaluation in its largest African market, according to MoneyCentral calculations.
Airtel’s income and expenditures denominated in various African currencies are translated into US dollars at the previous periods’ closing exchange rate.
Airtel Africa reported revenues of $5.25 billion and EBITDA, short for earnings before interest, taxes, depreciation and amortization, of $2.575 billion for the year ended 31st March, 2023.
Airtel Africa shares are down -28.85% in the past year.