Airtel Africa (AAF-L)
FTSE 100 · Telecommunications Service Providers · data since 2019-06-28 · last close 2026-10-26
Airtel Africa (AAF-L) monthly returns (%)
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -10.1 | 9.3 | -1.3 | 2.9 | -0.6 | -7.1 | 1.6 | -0.1 | -9.7 | -8.1 | · | · |
| 2025 | 27.1 | -1.3 | 16.1 | 3.6 | 3.0 | 2.1 | 13.3 | 8.6 | 10.0 | 13.4 | 12.4 | 14.3 |
| 2024 | -13.8 | -15.5 | 11.5 | 4.8 | 9.9 | -1.4 | -4.9 | 1.6 | -1.7 | -10.5 | 3.5 | 7.7 |
| 2023 | 4.8 | 2.9 | -11.7 | 12.8 | -0.8 | -9.5 | 8.2 | -2.2 | 10.2 | -9.8 | -3.3 | 18.9 |
| 2022 | 14.1 | -6.8 | -1.8 | 5.1 | 5.5 | -12.5 | 17.5 | -16.7 | -2.3 | -12.5 | 9.0 | -9.3 |
| 2021 | 5.2 | 0.3 | -0.5 | -4.2 | 3.6 | -2.1 | 15.8 | 4.2 | 7.3 | 9.9 | 13.9 | 7.1 |
| 2020 | -8.7 | -11.2 | -36.6 | -2.2 | -15.4 | 83.8 | -13.9 | 6.0 | 2.5 | 5.7 | 29.7 | -5.5 |
| 2019 | · | · | · | · | · | 0.0 | 1.6 | -2.8 | -24.2 | 25.0 | 24.2 | 1.4 |
| Avg | 2.6 | -3.2 | -3.5 | 3.2 | 0.7 | 6.6 | 4.9 | -0.2 | -1.0 | 3.0 | 12.8 | 4.9 |
| Median | 4.8 | -1.3 | -1.3 | 3.6 | 3.0 | -1.8 | 4.9 | 0.8 | 0.4 | 5.7 | 12.4 | 7.1 |
October so far: -8.1% against an average of +3.0% and a median of +5.7% across 7 completed Octobers, 4 of them positive.
Values in %. Current and first-listed months are partial (greyed) and are left out of the Avg and Median rows.
returnsview.com
AAF-L seasonality — average by calendar month
Airtel Africa's record starts in 2019, so each calendar month rests on 8 observations — short enough to read as description rather than signal. Its strongest month by median is November — positive in 6 of 7 years, median +12.4%. June is the soft spot, down in 6 of 8 with a median of -1.8%. Across its full record it has closed 56% of months higher, swings ±14.3% in an average month and has fallen 65.8% peak to trough.
| Month | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Avg | +2.6% | -3.2% | -3.5% | +3.3% | +0.8% | +6.7% | +4.9% | -0.2% | -1.0% | +3.0% | +12.8% | +4.9% |
| Win rate | 57%/7 | 43%/7 | 29%/7 | 71%/7 | 57%/7 | 25%/8 | 75%/8 | 50%/8 | 50%/8 | 57%/7 | 86%/7 | 71%/7 |
Win rate = share of positive months / sample size.
AAF-L risk & extremes
AAF-L drawdown & rolling returns
Percent below the all-time high at each month-end — how far underwater the asset was.
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Frequently asked questions
What was Airtel Africa's best month?+
Airtel Africa's strongest completed month on record is June 2020, at +83.82%.
What was Airtel Africa's worst month?+
Its weakest completed month on record is March 2020, at -36.59%.
Is Airtel Africa up this year?+
Airtel Africa is down 22.18% year to date, measured from its last close before 1 January.
What is Airtel Africa's 1-year return?+
+21.25% over the past twelve months, comparing the latest close with the most recent close on or before the same date a year earlier.
What is Airtel Africa's biggest drawdown?+
The deepest peak-to-trough fall on record is 65.8%, measured on month-end closes since 2019.
Which calendar month is historically best for Airtel Africa?+
November has the highest average return across every completed November since 2019. An average is not a forecast.
About Airtel Africa
Airtel Africa is a FTSE 100 company, a telecommunications service providers business worth about $13 billion. It competes for the only truly scarce resource: your attention — with price receipts on this site going back to 2019. And the long game: $100 at its first close here (2019) would be about $445 today.
Did you know?
- Its best month on record was June 2020 at +83.82%; its worst, March 2020 at -36.59%.
- It has closed November in the green 6 out of 7 times — past performance, future shrug.
Trivia for entertainment — the numbers come from our price data; the jokes don't.