Airtel Africa’s customer base surged by 8.6 percentage to 155.4 million across the continent.
There is a 13.4% rise in data service users and 14.1% increase in mobile money subscribers.
According to the latest quarterly result for the period ended in June 204, a profit after tax of US$ 31 million which represent a 120% Year-On-Year growth as the telco’s services experience a steady uptake.
However, the Airtel revenue declined by 16.1% to 1.15 million due macroeconomic factor such as inflation and currency devaluation.
Currency devaluation led to the group’s accumulated costs of US$ 261 million, most of which was used in sorting out debts burdened with high interest rates.
“The continued revenue growth momentum once again reflects the resilient demand for our services, with sustained growth in our customer base and usage. Our superior execution enables us to capture these opportunities, whilst retaining our reputation as a cost leader across the industry,” said the group CEO, Sunil Taldar.
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