11th August, 2023
Olusegun Ogunsanya, the CEO of Airtel Africa has sold 665,174 of his shareholding to buy a property in the UK.
The transaction at the London Stock Exchange on 4 August fetched him £757, 440.70 (about N739,379,164.26), the company disclosed in a notice to the Nigerian Stock Exchange on Friday.
The aggregated price for each stock was £1.1137, according to the notice signed by group company secretary Simon O’Hara.
With the sale, Ogunsanya is now left with 4,325,282 shares, the company said.
Airtel Africa, which provides telecommunications and money services in 14 African countries, is the most expensive stock on the Nigerian Exchange, trading at N1319.90 on Friday.
The company plans to be listed on the Uganda Stock Exchange, according to a notice given to the Nigerian Exchange on 9 August.
Ogunsanya was appointed the CEO of Airtel Africa in April 2021, succeeding Raghu Mandava, effective October 2021.
In June, Airtel announced that it has awarded him 1,420,828 shares, while Paul, who is the CFO, was awarded 633,704 shares.
Ogunsanya before joining the Airtel Group, has had varied top-level experiences with Coca Cola and Ecobank.
In 1999, he served as general manager and chief executive of Coca-Cola Ghana and later as the chief executive officer of Coca-Cola Sabco, Kenya, in 2010.
He was managing director and head of retail banking operations of Ecobank Transnational Inc. from 2008 to 2009.
Ogunsanya was the managing director at Nigerian Bottling Company Plc from September 2011, to December 2012.
He was appointed CEO of the Nigerian operation of Bharti Airtel, on 26 November 2012.
Ogunsanya holds a Bachelor’s degree in Electrical and Electronic Engineering obtained from the University of Ife (now Obafemi Awolowo University), in 1987.
He is also a Chartered Accountant, recognised by the Institute of Chartered Accountants of Nigeria.