Airtel Africa Reports Strong Growth in Mobile Money, Service Revenue.
Airtel Africa posted higher earnings for the nine months through December 2024, with mobile services revenue climbing 11.4% to $1,367 million. The figure marks an increase from $1,227 million in 2023.
The telecom giant saw notable gains in East Africa. Mobile money revenue in Uganda, Kenya, Rwanda, Tanzania, Zambia, and Malawi rose 14% to $549 million, up from $481 million last year.
Voice services lead revenue sources, though mobile money shows faster growth. Across all regions, mobile money revenue jumped 15.8% to $731 million, compared to $631 million in 2023.
"Our refined strategy focuses on delivering great customer experience," said Airtel Africa Group CEO Sunil Taldar. He noted the company's push toward better networks and simpler customer processes led to 21.3% revenue growth in the latest quarter.
In Uganda, Airtel launched new programs to boost financial access. These include the Vroomula Amajja rewards campaign and partnerships with Letshego Uganda Limited for digital loans. The company also joined forces with Stabex International to offer cashless services.
The results reflect Airtel Africa's mission to expand digital financial services. The company aims to improve connectivity and economic opportunities across Uganda and other African nations.
Through these initiatives, Airtel Africa continues its work in digital transformation. The company maintains its focus on financial inclusion to support economic growth throughout East Africa.
Airtel Africa posted higher earnings for the nine months through December 2024, with mobile services revenue climbing 11.4% to $1,367 million. The figure marks an increase from $1,227 million in 2023.
The telecom giant saw notable gains in East Africa. Mobile money revenue in Uganda, Kenya, Rwanda, Tanzania, Zambia, and Malawi rose 14% to $549 million, up from $481 million last year.
Voice services lead revenue sources, though mobile money shows faster growth. Across all regions, mobile money revenue jumped 15.8% to $731 million, compared to $631 million in 2023.
"Our refined strategy focuses on delivering great customer experience," said Airtel Africa Group CEO Sunil Taldar. He noted the company's push toward better networks and simpler customer processes led to 21.3% revenue growth in the latest quarter.
In Uganda, Airtel launched new programs to boost financial access. These include the Vroomula Amajja rewards campaign and partnerships with Letshego Uganda Limited for digital loans. The company also joined forces with Stabex International to offer cashless services.
The results reflect Airtel Africa's mission to expand digital financial services. The company aims to improve connectivity and economic opportunities across Uganda and other African nations.
Through these initiatives, Airtel Africa continues its work in digital transformation. The company maintains its focus on financial inclusion to support economic growth throughout East Africa.
