Airtel Africa Fixes Naira Rate at N1,347.44 for 3.1 US Cent Interim DividendAirtel Africa Fixes NairaRate at N1,347.44 for 3.1US Cent Interim Dividend

The rate matters because the dividend is declared in dollars but paid in naira by default to NGX investors. Fewer naira per dollar means the same dividend delivers less local currency than it did a year ago.

The rate and the dates

In a notice filed with the NGX on 5 November 2026, Airtel Africa said the naira rate is based on dollar exchange rates on 30 October 2026. For London holders, the sterling rate is 74.64 pence to the dollar, or about 2.31 pence a share.

The last day to trade to qualify is 12 November on the NGX and 11 November in London. The record date is 13 November, and the deadline for currency elections is 23 November on both exchanges. Holders on the NGX who do not return a Currency Election Form to the registrar receive naira. London holders receive dollars unless they elect sterling.

The N1,347.44 rate is about 7.5% below the N1,456.00 per dollar used for the 2025 interim dividend, so each dollar paid converts into fewer naira.

What sits behind the payout

The interim dividend is up 9.2% in dollar terms. Airtel Africa's half-year results show profit of KSh 58.76B ($452M), up 20.5%, with basic earnings per share of 10.2 US cents against 8.3 US cents a year earlier.

The shares closed at N6,300 (about KSh 607.80) on the NGX on 5 November, compared with N2,270 at the start of the year, a gain of about 178%.

Mwenendo earlier reported on how Airtel Kenya paid KSh 8.45B for 5G spectrum, and as Mwenendo earlier reported, Airtel Money revenue jumped 25% in the same results period.

For Kenyan investors holding Airtel Africa through London or Lagos, the practical point is that the dollar sum is fixed while the local-currency value depends on the election made before 23 November.