Olumuyiwa Olowogboyega
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Airtel Africa, the holding company for Bharti Airtelâs operations in Africa, has released its financial report for the year ended March 31, 2021. One of the report highlights is that the companyâs revenues are up by 14.2% to $3.8 billion.
On the back of this revenue, Airtel Africa also posted net profits of $415 million, a slight growth of 1.8% from the previous year where it made $408 million in profits after tax.
Despite the flat profit growth, it is still an impressive result for the business in a year where Covid-19 has stalled economic growth across Africa. Additionally, in Nigeria, the companyâs biggest market, a ban on SIM card registration stifled growth.Â
Airtel Africa now valued at $2.65bn after $300m strategic investment deal
Airtel Africa has disclosed that it has signed a $300m strategic investment with The Rise Fund and Mastercard, which has increased the value of its business to $2.65bn.
Chief Executive Officer, Airtel Africa, Raghunath Mandava, said, âIn line with our strategy of unlocking value in our mobile money business, we will soon welcome two new minority investors (The Rise Fund and Mastercard) in agreed transactions which value this part of our business at $2.65bn, as well as bringing $300m into the group.â
The Rise Fund will invest $200m, while Mastercard will invest $100m into Airtel Mobile Commerce BV (AMC BV). AMC BV is the holding company for several of Airtel Africaâs mobile money operations it owns and operates in 14 countries.
Adrienn
Airtel Africa on Wednesday reported doubling of profit after tax for the March 2021 quarter to USD 154 million (over Rs 1130 crore), amid broad-based growth across key services and markets.
The underlying revenue for the fourth quarter ended March stood at USD 1,038 million (about Rs 7,619 crore), rising 15.4 per cent year-on-year on a reported currency basis.
Profit after tax doubled over the year ago period, jumping to USD 154 million in the quarter ended March amid higher depreciation and amortisation and reduction in forex losses.
In a statement, Airtel Africa said for the full year ended March 2021, the reported revenue grew by 14.2 per cent to USD 3,908 million (over Rs 28,600 crore).
Airtel Africa s customer base grew by 6.9% to 118.2 million, with increased penetration across mobile data (customer base up 14.5%) and mobile money services (customer base up 18.5%).
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