Airtel Zambia Reaches US$1 Billion Market Capitalisation Milestone on LuSE
The achievement was commemorated during a Bell Ringing Ceremony attended by government officials, industry leaders, regulators, investors, and other stakeholders.
Airtel Networks Zambia Plc has achieved a significant milestone by reaching a market capitalisation of US$1 billion on the Lusaka Securities Exchange (LuSE), becoming only the fourth company in the exchange’s history to attain the valuation.
The achievement was commemorated during a Bell Ringing Ceremony attended by government officials, industry leaders, regulators, investors, and other stakeholders. The event highlighted the company’s growth, investment in digital infrastructure, and contribution to Zambia’s economic development.
Speaking as Guest of Honour, Permanent Secretary in the Ministry of Technology and Science, Eng. Dr. Brilliant Habeenzu, described the milestone as a major accomplishment for Airtel Zambia, the ICT sector, and the country’s capital markets. He attributed the achievement in part to government reforms under President Hakainde Hichilema, which he said have improved macroeconomic stability and investor confidence.
Dr. Habeenzu noted that Airtel’s growth contributes to infrastructure development, job creation, financial inclusion, and expanded digital connectivity across the country. He added that the milestone reinforces Zambia’s position as an emerging regional hub for digital innovation and investment.
Airtel Networks Zambia Managing Director and Chief Executive Officer, Hussam Baday, thanked customers, shareholders, employees, regulators, and partners for supporting the company’s growth. He revealed that Airtel invested more than US$107 million over the past year to expand network coverage through the rollout of 4G and 5G infrastructure nationwide.
According to Mr. Baday, the company’s market value has increased more than fivefold within the last two years, reflecting strong operational performance and improving economic conditions in Zambia. He reaffirmed Airtel’s commitment to investing in network expansion, digital financial services, customer experience, and community development programmes.
Representing the LuSE Chief Executive Officer, Head of Legal Namunyaka Jere congratulated Airtel on the achievement, describing it as a historic moment for Zambia’s capital markets. She said the milestone demonstrates the benefits of strong corporate governance, strategic investment, and investor confidence.
Mrs. Jere further stated that Airtel’s success sends a positive signal to regional and international investors about Zambia’s investment climate and the growth potential of its capital markets. She encouraged more local companies to consider listing on the stock exchange to support expansion and long-term value creation.
The Bell Ringing Ceremony concluded with stakeholders expressing optimism about Airtel Zambia’s future growth and the continued development of Zambia’s digital economy and capital markets.
