Data, mobile money push Airtel Africa Q4 profit to $154m

Airtel Africa Q4 profit to $154m

Data, mobile money push Airtel Africa Q4 profit to $154m   Loses 2.5m active mobile customers in Q1   Bharti Airtel has said that its Africa’s operation reported a net profit of $154 million in the fourth quarter of last year, which doubled on-year and jumped 32.7 per cent sequentially on the back of strong growth in data and mobile money revenue. Revenue for the quarter ended March 31 rose 15.4 per cent to $1.04 billion, the company said in a statement released on Wednesday. Chief Executive Officer, Airtel Africa,…

Read more

Airtel Africa signs $500m loan facility

Airtel Africa signs $500m loan facility

Airtel Africa signs $500m loan facility   Airtel Africa, a leading provider of telecommunications and mobile money services, with a presence in 14 countries across Africa, today announces the successful signing of a new $500 million loan facility with a group of relationship banks. The new committed facility consists of a combination of a revolving credit facility and term loans with tenor of up to 4 years. Information obtained on Wednesday by Business Metrics showed that the facility will be used to partially refinance the Group’s €750 million Euro denominated…

Read more

Airtel Africa sells 1424 towers in Madagascar, Malawi for $119m

Airtel Africa sells Tanzania towers at $175 million

Airtel Africa sells 1424 towers towers in Madagascar, Malawi for $108m   Commences process to sell 1000 others in Chad, Gabon Airtel Africa, a leading provider of telecommunications and mobile money services, with a presence in 14 countries across Africa, today announces the signing of agreements to sell its telecommunications tower companies in Madagascar and Malawi to Helios Towers Plc a leading independent telecommunications infrastructure company in Africa. In a corporate filling at the Nigerian Stock Exchange (NSE), the Group said its tower portfolios in these two markets together comprise…

Read more

FG generates N71.6bn as NCC renews Airtel’s license

Airtel Africa signs $500m loan facility

FG generates N71.6bn as NCC renews Airtel’s license   The coffers of the Federal Government have been topped by fresh N71.6 billion paid by Airtel Nigeria to the Nigerian Communications Commission (NCC) as fee for renewing it’s operating license in Nigeria. Airtel Africa, a telecommunications provider in 14 countries, disclosed Thursday that the NCC had approved the renewal of spectrum licences in 900 and 1800 Megahertz (MHZ) for its Nigerian subsidiary Business Metrics reports that spectrums are radio frequencies allocated to mobile industries and other sectors for communication over the…

Read more

Airtel Africa to present 9-month scorecard

Airtel Africa signs $500m loan facility

Airtel Africa to present 9-month scorecard   The board of Airtel Africa Plc has announced plan to tender its performance metrics for the nine months to 31 December 2020 later this month. This is according to a filing the telecoms giant submitted at the Nigerian Stock Exchange on Wednesday, inviting its shareholders and the investing public to join the presentation virtually. The statement signed by Simon O’Hara, the group company secretary, read: “Airtel Africa, a leading provider of telecommunications and mobile money services, with a presence in 14 countries across…

Read more

Airtel plans to exit Ghana market soon

Airtel plans to exit Ghana market soon

Airtel’s board has announced that the Ghana government and AirtelTigo are in the advanced stages of concluding an agreement to transfer the mobile operator AirtelTigo to the state. This includes its customers, assets and agreed liabilities, with 100 per cent of shares on a going concern basis. No financial details of the sale were disclosed, but Airtel said it is taking an impairment charge of INR 1.84 billion on its holding in the operator. AirtelTigo is a joint venture between Airtel and Millicom formed in 2017, in which Airtel holds…

Read more

H1’ 2020: Airtel Africa posts $145m profit as customer base hits 116.4m

Airtel Africa Q4 profit to $154m

Telecoms and payment giant, Airtel Africa has reported broad base positive performance for the half-year period ended September 30, 2020. According to the financial disclosure filed on the Nigerian Stock Exchange (NSE), where it is listed, the telecoms company realised $145 million as the profit after tax (PAT) for the period. This is however 36.6 per cent decline from the 2019 half year record, despite 10.7 per cent rise in revenue at $1.815 billion in the six-month period and 14.3 per cent uptick in the Q2 revenue alone. Airtel Africa…

Read more

Tech stocks, bellwethers lead N297bn gain as NSE sustains uptrend

Tech stocks, bellwethers lead N297bn gain as NSE sustains uptrend

Index surpasses 27,000 points Better performance last seen May 5 Zenith emerges investors’ favourite 36 bulls crush 10 bears ______________________________________ Building on its bullish performance from previous sessions, the Nigerian Stock Exchange (NSE) remained positive as the market opened on Monday for another weekly investment adventure. Trading in the domestic equities attained a new height at the end of the session, riding on massive interest in the shares of MTN Nigeria which grew +3.9 per cent, Airtel Africa  with +5.3 per cent appreciation and some other bellwethers that inspired the…

Read more

Airtel Africa, Standard Chartered Bank partner to drive financial inclusion

Airtel Africa, Standard Chartered Bank partner to drive financial inclusion

Airtel Africa, a leading provider of telecommunications and mobile money services, with a presence in 14 countries across Africa has announced a strategic partnership with Standard Chartered Bank to deepen financial inclusion across the continent. As contained in a Wednesday corporate filling on the Nigerian Stock Exchange (NSE), Airtel’s partnership with the leading international banking group is aimed at focusing financial inclusion solution across key markets in Africa by providing customers with increased access to mobile financial services. Standard Chartered and Airtel Africa will work together to co-create new, innovative…

Read more