Telecom
Airtel Africa Records 7.9% Subscriber Growth, $3.6B Revenue in Nine-month Results
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Airtel Africa reports strong revenue and customer growth, bolstered by data, mobile money, and network investments despite currency fluctuations. Airtel Africa plc has announced its results for the nine-month period ended 31 December 2024 on Thursday.
Operating Highlights
The total customer base grew by 7.9% to 163.1 million. Data customer penetration continues to rise, with a 13.8% increase in data customers to 71.4 million. Data usage per customer increased by 32.3% to 6.9 GBs, with smartphone penetration increasing by 5.2% to reach 44.2%.
The continued investment to increase financial inclusion across our markets contributed to an 18.3% increase in mobile money subscribers to 44.3 million. Transaction value in Q3’25 increased by 33.3% in constant currency1 with annualised transaction value of $146bn.
Data ARPU growth of 15.0% and mobile money ARPU growth of 11.8% in constant currency continued to support overall ARPUs which rose 12.0% YoY in constant currency.
Customer experience remains core to our strategy with sustained network investment during the period. In line with our strategic priorities, data capacity across our network has increased by 20.8% with the rollout of 2,850 sites and approximately 2,600 kms of fibre.
Financial performance
Revenues of $3,638m grew by 20.4% in constant currency but declined by 5.8% in reported currency as currency devaluation continued to impact reported revenue trends. Strong execution supported a further quarter of accelerating growth with Q3’25 revenue growth of 21.3% in constant currency and reported currency revenue growth of 2.5%.
Across the Group, mobile services revenue grew by 18.8% in constant currency, driven by voice revenue growth of 9.8% and data revenue growth of 29.5%. Mobile money revenue grew by 29.6% in constant currency.
EBITDA for the nine-month period declined by 11.9% in reported currency to $1,681m with EBITDA margins of 46.2% impacted by increased fuel prices and the lower contribution of Nigeria to the Group. However, following initial successes of our cost efficiency programme, EBITDA margins have expanded from 45.3% in Q1’25 to 46.9% in Q3’25.
In Q3’25, profit after tax benefitted from an exceptional gain of $94m (net of tax) following the naira and Tanzanian shilling appreciation. However, over the nine-month period ending 31 December 2024, profit after tax of $248m was impacted by $57m of exceptional derivative and foreign exchange losses (net of tax).
EPS before exceptional items declined from 7.1 cents in the prior period to 6.2 cents, primarily impacted by increased costs associated with the ATC contract renewal, which had no impact on cashflows. Basic EPS of 4.4 cents compares to negative (1.6 cents) in the prior period, predominantly reflecting lower derivative and foreign exchange losses in the current period.
Sunil Taldar, Chief Executive Officer, Airtel Africa plc, said: “We have delivered an improvement in both the operating and financial performance in the last quarter driven by our refined strategy which is focussed on delivering great customer experience across all touch points.
“An increasingly important component of this is to provide a best-in-class network, digitise and simplify the customer journey. Our focus on speed and quality execution is enabling us to unlock the substantial opportunities for growth across our markets and business segments, where demand remains significant, resulting in a further acceleration of constant currency revenue growth to 21.3% in the most recent quarter.
“We remain committed to investing for the future by expanding our distribution and network to ensure that we capture this significant growth opportunity on offer. Despite the challenging environment for many of our customers, we continue to see strong demand for our services as we enable connectivity and facilitate access to the digital economy.
“The scale of data traffic growth across our markets – an increase of 49% over the last year – is testament to the investments we have made and the relentless focus on our strategy to create value for all our stakeholders.
“As we have communicated previously, our cost efficiency programme continues to deliver EBITDA margin improvements, with a further expansion of margins in Q3’25. We continue to focus on further margin improvement.
“Furthermore, our capital structure remains robust with just 8% of OpCo debt in foreign currency – a substantial improvement over the last year. This, together with continued confidence in the outlook for the business, has enabled the Board to announce a second share buyback programme, which will return up to $100m to shareholders.
“The recent signs of currency stabilization in some markets and the recent decision from the Nigerian Communications Commission (NCC) regarding tariff adjustments in Nigeria are encouraging and signal a more stable and supportive operating environment. While challenges remain, these developments provide a firm foundation for growth and improved market conditions”.
Telecom
OnePipe Launches PaywithAccount: Revolutionizing Payment Collections in Nigeria
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For many Nigerian small business owners, cash flow isn’t just a challenge—it’s a constant battle. Whether it’s schools struggling with delayed tuition payments, logistics firms dealing with inconsistent driver remittances, or cooperatives managing member contributions, the process of collecting payments remains inefficient, unpredictable, and time-consuming.
A study by PwC revealed that 48% of Nigerian Micro, Small, and Medium Enterprises (MSMEs) have experienced delayed payments due to different reasons, with 33% of affected businesses reporting severe consequences.
Traditional systems often involve manual invoicing, repeated follow-ups, and high transaction fees, leaving business owners with less time to focus on growing their operations.
In response to this challenge, OnePipe has launched PaywithAccount, a direct-from-account payment solution that helps businesses automate and simplify collections, reducing delays and improving cash flow predictability. With PaywithAccount, businesses can collect payments directly from customer bank accounts—securely and automatically—without the need for cards, manual reminders, or complex reconciliations.
For entrepreneurs across Nigeria, the ability to receive payments on time means the difference between survival and growth. “As a school owner, I want to focus on my students, not spend hours tracking unpaid fees,” said Mrs. Olumide Ashade, Founder of King’s Court School in Lagos.
“Many of our parents pay in installments, but managing these payments manually has been stressful.
“A solution like PaywithAccount means we can offer flexibility to parents while keeping our finances in order.”
“Reliable repayment is the backbone of growth for lenders. At Lendsqr, we understand that payment delays are a significant problem for lenders”, said Adedeji Olowe, Founder, Lendsqr.
“We have helped many of our lenders transition from debit cards to PaywithAccount which reliably ensures loan repayments are on schedule.”
“At NIBSS, our core vision is to empower the financial ecosystem to innovate within the framework of interoperability, ease of connectivity, collaboration, and cost-optimization,” said Ngover Ihyembe-Nwankwo, Executive Director of Nigeria Inter-Bank Settlement Systems PLC (NIBSS).
“PaywithAccount is another heartening example of what happens when industry players leverage these guardrails to enhance the overall quality of our nation’s digital payment system.”
For Ope Adeoye, CEO of OnePipe, this is a commitment to empowering Nigerian businesses. “Small businesses are the backbone of our economy, but too many struggle simply because getting paid is a challenge,” said Adeoye.
“We believe financial technology should remove obstacles, not create them.
“PaywithAccount helps businesses worry less about collections so they can focus on what truly matters—growth, innovation, and serving their customers.”
With PaywithAccount, small businesses across Nigeria can now eliminate the stress of late payments, automate their collections, and take full control of their financial future.
For more information about PaywithAccount, visit www.onepipe.io or call 02013438444.
Telecom
Apple Introduces Affordable iPhone 16e Model
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Apple has announced the iPhone 16e, a new iPhone model, which is priced lower than its main models that usually debut in September.
The iPhone 16e, retailing at $599, is set to go on sale later this month.
It features a modern design without a home button or fingerprint sensor, using Apple’s FaceID scanner and a sensor notch at the top of the screen.
Powered by the same A18 chip as the main iPhone 16 models, the iPhone 16e can run all the same apps and games. It will be available in black and white.
The iPhone 16e also introduces Apple’s first cellular modem, the C1, replacing the Qualcomm modems used in previous models.
With a single camera lens, as opposed to the multiple lenses on more advanced models, the iPhone 16e aims to attract new customers to Apple’s ecosystem, supporting features like image generation and notification summaries via Apple Intelligence.
Apple is releasing this low-cost iPhone to boost sales amidst mixed results in recent quarters, as overall iPhone sales fell 1% annually in the December quarter, though the company still sold over $69 billion worth of phones during this period.
This model continues Apple’s tradition of offering affordable iPhones, following the iPhone SE. Unlike previous major product launches, the iPhone 16e was introduced through a press release, reflecting Apple’s new approach to product announcements.
Telecom
Airtel Nigeria Faces 40 Percent Revenue Dip amid Naira Devaluation
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Airtel Nigeria’s revenue fell by 40.34% in 2024, reaching $738 million, down from $1.24 billion the previous year.
This sharp drop is mainly due to the steep devaluation of the Nigerian naira.
Although the company saw a 3.2% increase in its customer base, which grew to 52.1 million subscribers, the rise in data usage per customer was more significant.
Average data consumption grew by 37.2%, reaching 8.4 GB per month.
Airtel’s EBITDA dropped by 46.4%, standing at $360 million.
Despite the challenges posed by inflation and rising operational costs, the company adjusted its pricing for voice and data services, in line with the Nigerian Communications Commission’s (NCC) tariff changes.
The company said it remains focused on adapting to the tough economic situation while maintaining its service quality for a growing customer base.
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