Connecting Africa is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 3099067.

Business of Tech

Airtel Africa reports bumper first half earnings

Article Image
Airtel Africa had a bumper first half with profit after tax more than doubling to $335 million. Revenue for the six months to September 30, 2021, also grew by 25.2% to $2.27 billion with double digit growth across all regions.

The telco, which operates in 14 countries across Africa, reported revenue growth of 32.4% in Nigeria, East Africa's revenue rose 25.8% and Francophone Africa increased 22.1%. Data revenue grew 36.9% while voice revenue increased 19.7%.

Airtel is seeing success in its mobile financial services in Africa, with plans to spin off and list the financial services unit within four years. For the half year the mobile money customer base grew 19% to 23.9 million and mobile money revenue jumped 42% to $259 million.

Overall customers also increased by 5.4% to 122.7 million, and data customers rose almost 11% for the half. Airtel said the customer base growth was affected by the new SIM registration regulations in Nigeria and excluding Nigeria the customer base would have grown by 13.7%.

Airtel Africa's new CEO Segun Ogunsanya still sees huge potential across voice, data and mobile money from low penetration levels across Africa.

"The continent continues to be a growth story for us despite the pandemic. We will continue to invest in mobile and digital technologies to drive digital and financial inclusion sustainably in Africa. I am pleased with the progress we have made in the last couple of years on delivering value to everyone touched by our network," he said.

Ogunsanya took over as CEO at the beginning of October, replacing long-serving leader, Raghunath Mandava, who retired.

"Operationally we have continued our network modernization and expansion, aligned with an extension of our distribution capabilities, which have together contributed towards continued strong growth in ARPUs across voice, data and mobile money. We have seen an improvement in our customer growth trends for the Group as we approach stability of net monthly movements in Nigeria," he added.

Earnings before interest, tax, depreciation and amortization (EBITDA), a key earnings measure for telecoms operators, jumped 35.2% to almost $1.1 billion.

The board has declared an interim dividend of two US cents per share.

Alongside the results the group also launched a new sustainability strategy which includes goals for digital and financial inclusion, access to education as well as specific goals around environmental protection including cutting its net greenhouse gas emissions to zero before 2050.

Related posts:

* Top image is of new Airtel Africa CEO Segun Ogunsanya (Source: Airtel Africa)

— Paula Gilbert, Editor, Connecting Africa

Innovation hub

Story

Connecting Africa Podcast: Ep. 8 – Edtech for the future of work

This week we are joined by Eyitayo Ogunmola, CEO of Utiva, which is a startup offering technology skills training to prepare young people for the the future of work.

Story

Hot startup of the month: Malawi's Converged Technology Networks

Startup Converged Technology Networks is focused on addressing the unmet demand for residential broadband Internet access in Malawi.

More Innovation hub

Latest video

More videos

Guest Perspectives

Story

Omdia View: October 2021

By Omdia Analysts

Across the Middle East and Africa, regulators are beginning to facilitate spectrum allocation to operators in the region for the deployment of new and innovative technology.

Story

Research Bites: Why Africans stop using mobile apps

By Chinedu Wilfred Okonkwo, Magda Huisman and Estelle Taylor

This article – in collaboration with the African Journal of Science, Technology, Innovation and Development – explores the reasons behind why Africans stop using certain mobile apps.

More Guest Perspectives

Partner perspectives

All Partner Perspectives

AfricaCom perspectives

Story

Digital inclusion as a catalyst for economic empowerment: Mastercard's Imelda Ngunzu

Mastercard's Imelda Ngunzu talks to Connecting Africa about how digital payment solutions and mobile money are transforming the lives of small business owners, women and marginalized groups in East Africa.

Story

Accelerating women in STEM: In conversation with GirlCode's Tinyiko Simbine

GirlCode co-founder and CFO Tinyiko Simbine talks about why it's important to help girls and young women excel in science, technology, engineering and mathematics (STEM) fields.

Story

How Poa Internet is unlocking meaningful connectivity in East Africa

Poa Internet's CEO Andy Halsall shares his views on what it takes to develop last-mile connectivity and get Africans online in a meaningful way.

More AfricaCom perspectives

Flash poll

All polls

Archived webinars

Meeting SME’s where they are - Building inclusive ecosystems for Africa’s small business owners

Micro and small businesses have been, and still are, the spine and lifeblood of the African economy, making up 90% of businesses on the continent.

Many of these businesses have still been operating in traditional ways and serving non-digital customers. With Covid-19 expediting the digital transformation process, businesses - big and small - have been forced to adapt to operate successfully in a more digital-first environment.

To ensure that the digitalization of Africa’s market doesn’t leave micro and small businesses behind, digital solutions must be inclusive and create business-ready environments. But how can we ensure that African SMEs become digitally enabled?

In this webinar we will share from our own experience on how to create such an environment, and the actions we took in vcita to get there, including:

  • Closing the digital literacy gap through tech inclusion 
  • Making a positive impact on local communities
  • Building the foundations for digital inclusion and small business growth in a technology-accelerated world
  • Building the foundations for digital inclusion and small business growth in a technology-accelerated world

Register Here >>

More Webinars

Sponsored video

More videos

Like us on Facebook

Newsletter Sign Up


Sign Up