Airtel Momentum Continues Despite Currency Headwinds
Airtel Africa Plc operates in 14 countries in Africa, primarily in East Africa and Central and West Africa.
LAGOS, Nigeria- Airtel Africa plc says it has sustained its operating momentum in a period of nine-months despite continued foreign exchange headwinds in some countries it operates such as Malawi and Nigeria, writes Moses Nyirenda.
In a statement released Friday indicating the results for the nine-month period ending Dec. 31, 2023, the telecommunication company highlighted some achievements.
"Total customer base grew by 9.1% to 151.2 million, the penetration of mobile data and mobile money services continued to rise, driving a 22.4% increase in data customers to 62.7 million and a 19.5% increase in mobile money customers to 37.5 million," the statement said.
It also indicated revenue in constant currency grew by 20.2%, with third quarter 2024 growth accelerating to 21.0%.
All segments continued to deliver double-digit constant currency growth and across the group mobile services revenue grew by 18.6% in constant currency, driven by voice revenue growth of 11.2% and data revenue growth of 28.5% while mobile money revenue grew by 31.8% in constant currency.
Airtel Africa Plc Group Chief Executive Officer Olusegun Ogusanya said the company remains focused on sustained growth.
"We remain focused on the execution of our growth strategy and combined with our strong operational execution, this has ensured that we continue to see sustained, positive growth momentum across the business, despite the inflationary and currency headwinds," Ogunsanya said.
Airtel Africa Plc operates in 14 countries in Africa, primarily in East Africa and Central and West Africa.
It offers an integrated suite of telecoms solutions to its subscribers including mobile voice, data services and mobile money services.