Airtel Africa Plc reported a 13% revenue increase for the quarter ended June 30 2022, to $1,257 million.
Total revenues for mobile services and mobile money services grew in Nigeria by 18.3%, East Africa by 14.1%, and Francophone Africa by 11.7%.
The mobile money service grew by 26.5%, driven by 26.9% in East Africa and 25.4% in Francophone Africa. The company’s operating profit grew by 20.6% to $425 million.
“I am pleased to report that the group has continued to post double-digit revenue growth, margin improvement, and strong earnings growth. I am also particularly pleased with our ongoing strengthening of the balance sheet, which continued after the period ended, with the early repayment of $450 million of debt at group level, “Segun Ogunsanya, CEO of Airtel, said.
“We continue to target growth ahead of the market this year and, despite inflationary pressures, our continued focus on cost efficiencies should also support margin resilience,” Ogusanya said.
Airtel Africa’s total customer base increased to 131.6 million, up 8.9%, with increased penetration across mobile data (customer base up 9.7%) and mobile money services (customer base up 19.7%).
Airtel Africa is a leading provider of telecommunications and mobile money services, with a presence in 14 countries in Africa, primarily in East Africa and Central and West Africa.
