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Crossing the US$1 billion market capitalisation threshold on the Lusaka Securities Exchange (LuSE), Airtel Networks Zambia Plc has joined an elite tier of listed companies and marking a defining moment in Zambia’s capital market history. The milestone, recorded as at 8 June 2026, reflects sustained investor confidence in the company’s long-term strategy, operational discipline and continued expansion of digital connectivity and financial services nationwide.
Airtel becomes only the fourth company in LuSE’s history to achieve unicorn valuation status, a distinction that speaks not only to corporate performance but to the growing depth and maturity of Zambia’s equity markets. Permanent Secretary in the Ministry of Technology and Science, Brilliant Habeenzu, contextualised the achievement within the country’s broader economic trajectory. “This milestone is not only significant for Airtel as a company but equally important for Zambia’s capital markets, our ICT sector and the broader economy,” said Habeenzu.
He attributed the enabling environment to reforms advanced under President Hakainde Hichilema’s administration, reforms that have restored macroeconomic stability, strengthened investor confidence and positioned ICT as a driver of inclusive growth. A predictable policy framework, he noted, continues to attract sustained investment into digital infrastructure, with tangible results of direct sector employment growing from 133,000 in 2021 to nearly 300,000 by 2025, while mobile money transaction values have risen from K42 billion to over K800 billion over the same period.
LuSE Chief Executive Officer Nicholas Kabaso underscored the significance of the threshold. “One billion dollars. Let that number settle for a moment. It reflects years of strategic investment, disciplined management and the confidence of shareholders who saw long-term value where others might not have,” said Kabaso. He added that the milestone reinforces LuSE’s role as a credible platform for large-scale capital formation and strengthens Zambia’s standing as an increasingly attractive destination for regional and global investment.
Airtel Networks Zambia Managing Director Hussam Baday credited the achievement to the loyalty of the company’s customer base and the rigour of its execution. “At its core, this achievement belongs to our customers as their loyalty, their confidence in our services and their belief in our brand have driven our growth and shaped our journey,” explained Baday.
He noted that over the past year alone, the company invested more than US$107 million to deploy 406 new 4G and 5G sites, reinforcing network coverage, capacity and reliability. This reinvestment-led model, he emphasised, is central to Airtel’s value creation philosophy where operational expansion directly funds further infrastructure development, innovation and long-term returns for shareholders.
Airtel reaffirmed its commitment to delivering reliable, affordable, high-quality connectivity, underpinned by strong governance and transparency. Continued investment in network expansion and digital financial services will remain integral to the company’s role in advancing Zambia’s national digital transformation agenda.
