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AIRTEL AFRICA
The latest earnings results on the NGX show that blue-chip brands that include Airtel Africa, Guinness Nigeria, Nigerian Breweries, and Cadbury Nigeria lost a significant amount of money due to FX exposures.
Airtel Africa plc has recorded a foreign exchange loss of $471 million in the quarter ending on June 30. This is according to the company’s financial statement filed at the Nigerian exchange.
Airtel Africa Plc has announced that it has awarded shares worth £2.3 million to two of its top directors, Olusegun Ogunsanya and Jaideep Kishore Paul.
From FMN's commercial paper issuance to Coronation Group's license acquisition, these stories highlight the defining moments from Corporate Nigeria last week. Enjoy.
Nigerian telco giants, Airtel Africa and MTN Nigeria, led the list of most valuable quoted companies in Nigeria in the first quarter of 2023.
Airtel Africa welcomes the changes to the Nigerian foreign exchange market, which it believes will help to alleviate the challenges faced in recent years to access US dollars.
At the close of market activities for the week, the combined market capitalization of SWOOTs appreciated by 3.81% to close at N20.617 trillion from N19.859 trillion the previous week, reflecting a gain of N757.17 billion.
SWOOTs, known as stocks worth over one trillion, which include Airtel Africa and MTN Nigeria among others, saw a slight dip in their combined market capitalization.
At the close of market activities for the week, the combined market capitalization of SWOOTs appreciated by 5.64% to close at N19.898 trillion from N18.835 trillion the previous week, reflecting a marginal gain of N1.062 trillion.
The NGX All-Share Index and Market Capitalization appreciated by 1.51% to close the week at 52,973.88 and N28.845 trillion respectively
Airtel Networks Limited has paid N58.7 billion to the Nigerian Communications Commission (NCC) to renew its 2x10 MHz 2100 MHz spectrum license.
Cruz will be replacing Mr. C Surendran, who was named Airtel Nigeria CEO exactly two years ago on May 5, 2021.