• Business - Companies
  • Updated: October 24, 2020

Airtel Africa Surviving On Nigerian Subscribers As Revenue Grows By 10.7%

Airtel Africa Surviving On Nigerian Subscribers As Revenue G

Nigerian subscribers gave Airtel Africa its highest revenue growth, as the telecommunications company generated $1.815 billion during the period ended September 31, 2020. According to a statement obtained by AllNews, Airtel Africa also recorded customer base growth of 12.0%.

Nigeria Is Airtel Africa's Most Lucrative Market

AllNews gathered that Airtel Africa, the parent company of Airtel Nigeria, secured 20.2% revenue growth in Nigeria, placing the country as its highest market in sub-Saharan Africa. Airtel Africa has over 39.79 million voice subscribers and data subscriber base of over 54.76 million in Nigeria 

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While combining other countries into the region, the company disclosed that East Africa reported a  growth of up to 21.9% and Francophone Africa up 4.4%. Also, Operating profit for the period was $472 million; this reflected an increase of 19.5%.

Services That Pushed The Revenue Growth

The revenue for the period under review surpassed the $1.640 billion generated in the corresponding period of 2019. The $1.85 million revenue was driven by growth from voice revenue (calls) which went up by 7.0%, data by 33.4%, and mobile money by 30.4%.

To further breakdown the revenue sourced from these services, AllNews gathered that voice revenue was $972 million, Data revenue hit $548 million, mobile money revenue clocked $181 million, while another revenue was put at $164 million.

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PBT And PAT Fall Amidst Rising Revenue

Despite the growth in its revenue, Profit Before Tax dropped in the period under review, as it hit $281 million, below the $316 million it reported in the corresponding period of 2019.

Also, the Profit After Tax also declined, as Airtel Africa reported $145 million for the period ending September 2020, failing to surpass the $228 million it posted for the corresponding period of last year.

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