Airtel Africa

Lower finance costs and steady revenue growth lifted Airtel Africa's Q4 profit to $80 million and helped it post a full-year net profit of $328 million in FY25

Starlink has secured necessary licences to provide satcom in 9 of the 14 countries Airtel Africa operates in

System is part of 45,000 km-long '2Africa', which will be the world's longest cable once completed

Bharti Airtel board has approved raising the stakeholding in Airtel Africa by up to 5 per cent, the telecom firm said in a statutory filing on Friday. Airtel Africa Mauritius Limited, which is a step-down subsidiary of Bharti Airtel, presently holds 57.29 per cent of Airtel Africa plc. The said acquisition is being done to increase stake in Airtel Africa plc, it said. "...the Special Committee of Directors, a duly authorised Committee by the Board of Directors of the company, has approved an increase in shareholding of the company in Airtel Africa plc (a subsidiary company listed in UK), by acquisition of up to 5 per cent stake in one or more tranches during FY 2024-25, through Airtel Africa Mauritius Limited (AAML), a step-down subsidiary company," the filing said. The acquisition shall be undertaken for cash consideration and at pricing, in accordance with the applicable laws, it further said.

Appreciation in key currencies give exceptional gain of $94 million to company

Bharti Airtel's Africa business unit Airtel Africa has reported USD 133 million (about Rs 1,152 crore) profit for the third quarter ended December 2024, mainly on account of forex gain, the company said on Thursday. Airtel Africa had posted a loss of USD 6 million attributable to owners of the company in the same period a year ago. Its revenue increased by 2 per cent to USD 1,268 million during the reported quarter from USD 1,238 million in the December 2023 quarter despite a decline in average revenue per user (ARPU) -- a key factor to measure the growth of telecom operators. "Exceptional items were predominantly driven by the devaluation of the Nigerian naira over the respective periods. In the third quarter of the financial year 2025, we recorded an exceptional gain of USD 144 million (USD 94 million net of tax) relating to the appreciation of the naira and the Tanzanian shilling during the quarter," Airtel Africa said in a note. The finance cost of Airtel Africa before exceptio

Continuing devaluation of African currencies and higher finance costs remain drags

Airtel Africa Foundation starts AI fellowship at IIT's first overseas campus

Continuing devaluation of African currencies and higher finance costs remain drags

Bharti Airtel's Africa unit Airtel Africa has reported a consolidated net profit of USD 7 million for the June 2024 quarter against a USD 170 million loss in the year-ago period. Its net profit was primarily impacted by the USD 80 million of exceptional derivative and foreign exchange losses (net of tax) and lower EBITDA due to significant currency devaluation across key markets, Airtel Africa said. It had reported a loss of USD 91 million for the fourth quarter ended March 2024 on account of tax impact and forex loss. "Strong fundamentals and focussed execution continue to support operating performance despite challenging macro-economic environment," the company, which operates in 14 African countries, said. The company's consolidated revenue fell 16 per cent in Q1 FY25 to USD 1,156 million from USD 1,377 million a year ago. The decline in revenue reflects the impact of currency devaluation, particularly in Nigeria, the company said. "We have initiated a comprehensive cost ...

Reliance Industries Ltd, through its subsidiary, is set to offer cutting-edge 5G shared network infrastructure solutions in Africa in collaboration with a local company supported by Ghana

Radisys Corp., a unit of Ambani-controlled Reliance Industries Ltd., will provide key network infrastructure, applications and smartphones for Ghana-based Next-Gen InfraCo

Bharti Airtel's Africa EBITDA is expected to be reduced by about 20 per cent in the current fiscal and register slow overall earnings growth, credit rating agency S&P Global said on Monday. The credit rating agency, however, said Bharti Airtel's overall earnings growth will likely remain on an uptrend, and its average revenue per user will continue to rise gradually in the Indian mobile market. "Currency-induced weakness in Bharti Airtel Ltd's African operations will weigh on earnings from that region and slow overall earnings growth. We expect that reported EBITDA from the African operations could contract by about 20 per cent in fiscal 2025 (year ending March 31, 2025) in Indian rupee terms," S&P Global said. Bharti Airtel on Tuesday posted a 31 per cent drop in consolidated profit to Rs 2,072 crore in the March 2024 quarter, mainly due to the devaluation of the Nigerian Naira. Airtel suffered a forex loss of Rs 2,544.4 crore on account of currency devaluation. "Africa ...

The firm hasn't decided where to list the unit, though executives are considering bourses in the United Arab Emirates, London and Europe among potential venues, they said

Ogunsanya will retire on July 1, 2024, after a 12-year-long stint in the company. He had run the Nigeria Operations of the Telecommunications and mobile money company for nine years before Airtel

Airtel Africa on Tuesday announced the retirement of Chief Executive Officer Olusegun 'Segun' Ogunsanya, with effect from July 1, 2024, and named Sunil Taldar as his successor. Taldar, who joined Airtel Africa in October 2023 as Director Transformation, will begin the transition to the CEO role, working alongside Ogunsanya. After the transition period, Taldar will be appointed to the board as an executive director and assume the role of CEO on July 1, 2024, when Ogunsanya will step down from the board and retire from the company, Airtel Africa said in a release. "Airtel Africa plc today announced the retirement of the Chief Executive Officer, Olusegun Segun Ogunsanya, with effect from 1 July, 2024," the release said. Ogunsanya, who joined Airtel in 2012, ran the Nigeria operations of the telecommunications and mobile money company for nine years before being appointed as CEO of the group in 2021. "With local knowledge of the African landscape and deep distribution experience he l

The demand for Ugandan government bonds maturing in 2033 exceeded the amount on sale by eight fold in an auction on Thursday

Airtel Africa which operates in 14 African countries has reported an 8.8 per cent year-on-year decline in consolidated net profit at USD 138 million in the fiscal's second quarter ended September 2023. The profit after tax stood at USD 152 million in the year-ago period, according to a release by the company which provides telecommunications and mobile money services. Airtel Africa's revenue for the quarter ended September 2023 came in at USD 1,246 million. "In Q2'24, reported currency revenues declined by 4.7 per cent reflecting a full quarter's impact of the Nigerian naira devaluation in June 2023. The Q2'24 constant currency revenues increased by 19 per cent," the release said. Seen on a six-month window, in the half year ended September 2023, the loss after tax was at USD 13 million "driven largely by a foreign exchange loss of USD 471 million recorded in finance cost before tax and USD 317 million after tax because of the devaluation of the Nigerian naira in June 2023". This

France's ambassador was accredited by the foreign ministry under ousted President Mohamed Bazoum, Niger's Foreign Minister Hassoumi Massoudou said in a post on X, formerly known as Twitter, on Friday

Higher finance costs and June devaluation of Nigerian currency identified as contributing factors