In the first quarter (Q1) of 2023, stock market investors snubbed Airtel Africa for its market rival, MTN Nigeria, as the telecommunications company battled for Domestic and Foreign Portfolio Investments.
During the period between January to March, portfolio investors reduced their investments in Airtel Africa, leading to shareholders of the firm suffering -18.58 per cent decline in their investments held within the telco.
Airtel’s shares plummeted in value to N1,331.1 kobo as of Thursday, from N1,635 it opened the year with, on the back of low demand from portfolio investors.
