Airtel Africa Plc Reports Significant Revenue and Customer Base Growth
Airtel Africa Group CEO Olusegun Ogunsanya expressed satisfaction with the company’s performance, attributing the growth to high demand for Airtel Africa Plc’s telecommunication services.
Lilongwe, Malawi-Airtel Africa Plc has announced a notable increase in revenue and customer base for the half-year period ending Sept. 30, 2023, writes Moses Nyirenda.
According to a press statement released by the company on Oct. 30, 2023, revenue in constant currency grew by 19.7%, with reported currency revenues up by 2.3% to $2,623 million.
The total customer base grew by 9.7% to 147.7 million, driven by the continued rise in the penetration of mobile data and mobile money services.
This led to a 23.0% increase in data customers to 59.8 million and a 23.1% increase in mobile money customers to 36.5 million.
The company’s mobile services revenue grew by 18.3% in constant currency, driven by voice revenue growth of 11.5%, data revenue growth of 28.1%, and mobile money revenue growth of 30.9%.
Airtel Africa Group CEO Olusegun Ogunsanya expressed satisfaction with the company’s performance, attributing the growth to high demand for Airtel Africa Plc’s telecommunication services.
“I am pleased to report a strong operating performance for the group despite foreign exchange headwinds in many of our markets,” Ogunsanya said.
He added that their focus remains on enhancing long-term value by continuing to drive sustained and efficient growth.