Airtel Networks Zambia has achieved a milestone, attaining a market capitalisation of US$1 billion on the Lusaka Securities Exchange (LuSE).
The telecommunications operator is the fourth company in the 32-year history of the LuSE to achieve a market capitalisation of US$1 billion.
The feat is being hailed as a major achievement for Zambia's telecommunications sector, capital markets and economy.
Brilliant Habeenzu, permanent secretary in the Ministry of Technology and Science, was the guest of honour at the official bell-ringing ceremony at the LuSE to celebrate the achievement.
"Airtel's achievement demonstrates Zambia's growing competitiveness in the digital economy and positions the country as an emerging regional hub for innovation and investment," said Brilliant Habeenzu, permanent secretary in the Ministry of Technology and Science.
Habeenzu said the bell-ringing ceremony symbolised growth, resilience and the strong partnership between government and the private sector in driving national development.
Hussam Baday, managing director and chief executive officer of Airtel Zambia, said: "The milestone represents more than financial success. It is a reflection of the trust and confidence placed in Airtel by millions of customers across Zambia."
He said the company remains committed to sustained investment, noting that Airtel invested more than US$107 million in the past year to expand network coverage through the rollout of 4G and 5G infrastructure across Zambia.
Namunyaka Jere, head of legal at Airtel Zambia, described the achievement as historic for both Airtel and Zambia's capital markets.
"It reflects years of strategic investment, sound corporate governance, disciplined management and strong investor confidence," she said.
Airtel Zambia began operations in 1998 under its founding brand, Zamcell.
Its parent company, Bharti Airtel, acquired the operator in 2010.
According to the company, Airtel Zambia has more than 12.5 million subscribers and a 48% share of the country's mobile network market.
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