This archive report was first published on 14 May 2020.
On March 31, 2020, Airtel Africa reported a remarkable financial performance, surpassing analysts' predictions with a revenue of $3.4 billion, representing an 11.2% increase from 2019.
The company's customer base in 14 African countries grew to 110.6 million, a 11.9% increase in customer numbers, with notable growth in voice, data, and mobile money services.
Notably, data revenue experienced a significant 36% increase to $930 million, while mobile money revenue in the region saw a 38.6% increase to $213 million, driven by the expansion of mobile money services in Zambia, Tanzania, Uganda, and Malawi.
Airtel's East Africa business earned $1.2 billion in revenue during the period, with Kenya, Uganda, Tanzania, Malawi, and Zambia recording double-digit revenue growth for the year.
As a result of its strong performance, Airtel Africa listed on the London Stock Exchange and the Nigerian Stock Exchange in July 2019, raising $680 million, and Airtel Malawi listed on the Malawi Stock Exchange in February 2020, indicating strong investor interest in the company.
With its investments in modernized and expanded networks, new spectrum in Nigeria, Malawi, Tanzania, and Chad, and strategic partnerships in the mobile money business, Airtel Africa is poised to maintain its good performance.
