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Q3’24: Airtel Africa In Mixed-Bag Performance Despite Financial Inclusion Push
Banking & Finance
By Admin2 On Feb 3, 2025

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Airtel Africa has told investors that the company experienced a mixed bag performance for the nine-month period ended 31 December 2024 December 2024.

Africa’s foremost telecommunication company announced a profit after tax of $248 million approximately N190.4 billion in the period under review while it also recorded a boost in its financial inclusion penetration in the countries it operates.

In the company’s financial statement filed on the Nigeria Exchange Limited, the company recorded growth in its revenue, with mobile money transactions increasing by 29.6 per cent year-on-year to reach $731 million while the revenue from mobile services also surged by 21.3 per cent, contributing significantly to the overall performance.

However, despite these gains, the company experienced an 11.9 per cent decline in earnings before interest, taxes, depreciation, and amortisation due to ongoing inflationary pressures and currency fluctuations in some of its markets.

Airtel Africa’s mobile subscriber base saw a notable increase, rising by 7.9 per cent to 163.1 million users, which helped drive the growth in revenue, particularly from data services. Data customer penetration continues to rise, with a 13.8 per cent increase in data customers to 71.4 million.

Data usage per customer increased by 32.3 per cent to 6.9 GBs, with smartphone penetration increasing by 5.2 per cent to reach 44.2 per cent.

The company also continues to invest heavily in expanding its network, with capital expenditures (Capex) totalling $456 m (about N352 bn) for the period.

https://independent.ng/q324-airtel-africa-in-mixed-bag-performance-despite-financial-inclusion-push/