Airtel Africa See Improved Revenue Numbers Driven By Data And Mobile Money

22 May 2020

Mergers, Acquisitions and Financial Results

Airtel Africa, the pan-Africa telco has declared that in its financial year-end of 31 March 2020, it has chalked up almost USD3.5 billions in revenues.


According to the company's report, this represents significant year-on-year growth, with the drivers coming from its data business which saw a 36% growth and its mobile money services, which comes in at a 33% increase year-on-year.


The CEO of Airtel Africa Mr Raghunath Mandava said he is delighted that the company was able to deliver a solid financial result despite the late impact of the current COVID-19 pandemic.


While still being cautious because of the uncertainty unleashed by the Coronavirus pandemic, Mr Mandava is confident that Airtel Africa should continue to grow by taking advantage of the low data penetration rates across Africa.


Airtel is also banking on its ability to drive further its mobile money business.


Airtel Africa currently operated in fourteen Africa countries, and according to it's reporting, it now has a total of 110.6 million subscribers across the region.

Source: Broadcast Media Africa