Airtel Africa Buys Out 8.22% Minority Investor In Nigerian Arm For N61bn

Airtel Africa Plc, on Thursday morning, said it has completed the buyout of minority shareholders of Airtel Networks Limited, its Nigerian subsidiary which commenced on October 4, 2021.

The total consideration for the 8.22% minority shareholdings acquired under the buyback is N61bn, equivalent to $147m using an exchange rate of 415.07 NGN/USD, according to the statement by Simon O’Hara, Group Company Secretary of Airtel Africa.

With this, the company said it now has 99.96% ownership over Airtel Nigeria,  its largest subsidiary.