Airtel Africa's mobile money, data growth to double by 2024: Experts

The operator continues to invest in the 4G network, having added nearly 1,500 sites

The data and mobile money penetration of Airtel Africa, Bharti Airtel’s African arm, is set to almost double in the next four to five years, say analysts.

Airtel is Africa’s second-largest telecom operator with 100 million mobile subscribers (as of June 2019) and has a leading position in most of its markets.

Goldman Sachs forecast a 9 per cent compound annual growth rate (CAGR) in revenue between financial year 2018-19 (FY19) and FY24, driven by 18 per cent CAGR in data usage and 30 per cent CAGR in the Airtel money business.

The brokerage said a combination of an under-penetrated telecom market, a