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    AAF   GB00BKDRYJ47


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Airtel Africa eyes broadband and mobile money boost after bumper first half

10/28/2021 | 08:12am EST
FILE PHOTO: A general view shows customers and employees inside a mobile phone service centre operated by Kenyan telecom operator Airtel Kenya at the Sarit Centre within the Westlands district of Nairobi

NAIROBI (Reuters) - Airtel Africa expects a boost from growing demand for mobile broadband and phone-based financial services, its chief executive said on Thursday, after posting rapid growth in first-half earnings.

The telecoms firm, which operates in 14 African markets including Nigeria and Kenya, said revenue grew 27.6% on a constant currency basis in the six months to the end of September.

Earnings before interest, taxation and depreciation, a key earnings measure for telecom operators, jumped 38.5% in the same period.

The growth trajectory will continue, CEO Segun Ogunsanya told Reuters after the results were released, driven by demand from a fifth of Africa's population that still has no access to mobile broadband.

"Most of these folks are mobile first, mobile only generation. They require mobile broadband to participate fully in the digital world," he said, referring to the continent's generally youthful population.

The provision of fourth generation (4G) internet network in its markets has been a key driver of revenue growth, Ogunsanya said.

Mobile financial services, including cash transfers and payments, has also been fuelling growth.

"More than half of adults in Africa don't have bank accounts. That shows the scope available in driving the mobile money business," he said.

In Nigeria, which is Airtel's biggest market, the firm has applied for a licence to offer financial services, from the central bank.

"It is one of our key objectives, so it is especially important for us," Ogunsanya said, adding said that they were in "constant dialogue" with the regulator.

Nigeria has been leaning towards a bank-led model for introducing mobile financial services, as opposed to countries like Kenya, where telecom operators like Safaricom lead the way, African telecom executives say.

Airtel plans to cut its net greenhouse gas emissions to zero before 2050, Ogunsanya said, and they will be requiring their suppliers, including cellular towers, to comply with the plan.

"We are convinced it is the right thing to do. It is the best thing to do for the environment," he said.

(Reporting by Duncan Miriri; Editing by Kirsten Donovan)

By Duncan Miriri

ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AIRTEL AFRICA PLC -2.69% 123.2 Delayed Quote.67.46%
BHARTI AIRTEL LIMITED -1.88% 718.35 End-of-day quote.41.05%
SAFARICOM PLC -2.24% 37.05 End-of-day quote.8.18%
All news about AIRTEL AFRICA PLC
12/02MTN and Airtel Africa among bidders for Nigerian 5G licences
12/02Airtel Africa Closes Repurchase Of $147 Million Minority Stake In Nigerian Unit
11/16Airtel Africa Closes Second Funding Round For Airtel Money Unit
11/16AIRTEL AFRICA : Second Closing of Airtel Money Minority Investments
11/15Airtel Africa's Nigerian Unit Approved for 'Super Agent' License
11/09Airte Africa Plc - Interim Dividend Currency Exchange Rates
11/09Shares of Airtel Africa and MTN Nigeria hit all-time highs
11/08Mobile money service approval sends MTN Nigeria shares to record high
11/08Airtel Africa shares rise 10% to six-month high
11/05Airtel Africa's Nigerian Unit Secures Approval To Operate Payment Service Bank
More news
Financials (USD)
Sales 2022 4 500 M - -
Net income 2022 506 M - -
Net Debt 2022 2 979 M - -
P/E ratio 2022 11,8x
Yield 2022 3,22%
Capitalization 6 120 M 6 116 M -
EV / Sales 2022 2,02x
EV / Sales 2023 1,76x
Nbr of Employees 3 525
Free-Float 24,8%
Duration : Period :
Airtel Africa plc Technical Analysis Chart | AAF | GB00BKDRYJ47 | MarketScreener
Technical analysis trends AIRTEL AFRICA PLC
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 9
Last Close Price 1,63 $
Average target price 1,76 $
Spread / Average Target 8,13%
EPS Revisions
Managers and Directors
Segun Ogunsanya Chief Executive Officer, MD & Director
Jaideep Paul Chief Financial Officer & Executive Director
Sunil Bharti Mittal Chairman
Razvan Ungureanu Chief Technology Officer
Neelesh Singh Chief Information Officer
Sector and Competitors