By Ayomide Otitoju
Airtel Africa has reported a profit after tax of $248 million (approximately N190.4 billion) for the nine-month period ending December 2024. The company disclosed this in its financial statement filed with the Nigerian Exchange Limited on Thursday, highlighting significant revenue growth driven by strong performance in mobile money and data services.
Mobile money transactions surged by 29.6% year-on-year, reaching $731 million, while revenue from mobile services grew by 21.3%, contributing significantly to overall earnings. However, the company faced an 11.9% decline in earnings before interest, taxes, depreciation, and amortisation (EBITDA) due to inflationary pressures and currency fluctuations in key markets.
Airtel Africa’s mobile subscriber base expanded by 7.9% to 163.1 million users, fueling revenue growth, particularly in data services. The company also ramped up network expansion efforts, with capital expenditures (Capex) reaching $456 million (about N352 billion) during the period.
Chief Executive Officer Sunil Taldar reaffirmed Airtel Africa’s commitment to enhancing customer experience and driving stakeholder value. He emphasized that the company’s strategic focus on network investment, digitization of customer journeys, and operational efficiency is unlocking new growth opportunities.
Taldar noted that despite economic challenges, the strong demand for Airtel Africa’s services underscores the resilience of its business model. He also highlighted recent positive developments, including currency stabilization in some markets and regulatory tariff adjustments by the Nigerian Communications Commission, which he said would foster a more favorable operating environment.
In a separate announcement, Airtel Africa unveiled a second share buyback programme aimed at returning up to $100 million to shareholders, reinforcing its commitment to value creation.
