Airtel Africa has reported a profit after tax of $248 million (approximately N190.4 billion) for the nine-month period ending December 2024. This financial performance reflects growth in both revenue and mobile money transactions, which increased by 29.6% year-on-year, reaching $731 million. Mobile services revenue also surged by 21.3%, contributing significantly to the company’s overall growth.
Despite these positive results, Airtel Africa faced some challenges, including an 11.9% decline in earnings before interest, taxes, depreciation, and amortisation (EBITDA). This drop was attributed to ongoing inflationary pressures and currency fluctuations in several of its markets.
The company saw a 7.9% increase in mobile subscribers, reaching 163.1 million users, which helped drive the revenue, particularly from data services. To support its growth, Airtel Africa continued to invest heavily in expanding its network, with capital expenditures (Capex) totaling $456 million (around N352 billion) during the period.
Airtel Africa’s CEO, Sunil Taldar, highlighted the company’s commitment to improving customer experience and creating value for stakeholders. He noted that the company’s strategic focus on network investment, digitising customer journeys, and speed in execution were key drivers of its growth. Despite a challenging economic environment, the strong demand for its services underscored the resilience of its business model.
Taldar also pointed to positive developments, such as the stabilizing currency in some markets and the Nigerian Communications Commission’s (NCC) decision on tariff adjustments, which he believes will create a more favorable operating environment. Additionally, Airtel Africa announced a second share buyback programme aimed at returning up to $100 million to its shareholders
