Buy Our Writers A Coffee

Subscription Amount. Min £2

Airtel Africa’s profit for the first half ended September 2021 more than doubled on-year to $335 million, while revenue for the same period rose 25 per cent YoY to $2.27 billion.

Airtel’s Africa business reported a net profit of $192 million in the fiscal second quarter, which more than doubled year-on-year (YoY) and rose over 35 per cent sequentially. The profit growth was on the back of a sharp reduction in finance costs coupled with strong growth in data and mobile money revenues.

Revenue for the quarter to September rose 20 per cent on-year and 4.31 per cent sequentially to $1.16 billion, the company said on Thursday.

Accordingly, Airtel Africa’s profit for the first half ended September 2021 more than doubled on-year to $335 million, while revenue for the same period rose 25 per cent YoY to $2.27 billion.

“Our first-half financial performance has been strong. The first half of last year, and especially Q1, was impacted by the start of Covid, but even after adjusting for these effects, our revenue growth rates for the half-year for the Group and all our service segments are ahead of our FY’21 revenue growth trends, and in reported terms, these are all in strong double-digit,” Segun Ogunsanya, Airtel Africa’s recently appointed new chief executive officer, said in an official statement on Thursday.

Net finance cost in the July-September quarter fell 23% on-year and nearly 27% sequentially to $71 million. 

Airtel’s Africa arm said, “The continued strength of the business has led the board to declare an interim dividend of 2 cents per share in accordance with an upgraded dividend policy which sets a new target base dividend for FY’22 of 5 cents per share, with the aim to grow this at a mid-to high- single-digit percentage each year.” 

About IEA Media Ltd

Informer East Africa is a UK based diaspora Newspaper. It is a unique platform connecting East Africans at home and abroad through news dissemination. It is a forum to learn together, grow together and get entertained at the same time.

To advertise events or products, get in touch by info [at] informereastafrica [dot] com or call +447957636854.
If you have an issue or a story, get in touch with the editor through editor[at] informereastafrica [dot] com or call +447886544135.

We also accept donations from our supporters. Please click on "donate". Your donations will go along way in supporting the newspaper.

Get in touch

Our Offices

London, UK
+44 7886 544135
editor (@) informereastafrica.com
Slough, UK
+44 7957 636854
info (@) informereastafrica.com

Latest News

24
Jan2021

Microsoft admits it...

This combination of file photos created on November 5, 2020 shows the PlayStation logo (top) on dis...

03
Feb2021

Tech CEOs including...

Jeff Bezos. MANDEL NGAN/AFP via Getty Images Jeff Bezos will step down as Amazon CEO in Q3 2021, th...

08
Feb2021

Kenyan Woman’s Start...

Photo UNEP/YouTube An absolutely brilliant young woman in Kenya has started a company manufacturing...

22
Feb2021

Nigeria’s ‘Techprene...

As recently as 10 years ago, Africa’s technology industry was sparse. But as a result of advancement...

For Advertisement

Big Reach

Informer East Africa is one platform for all people. It is a platform where you find so many professionals under one umbrella serving the African communities together.

Very Flexible

We exist to inform you, hear from you and connect you with what is happening around you. We do this professionally and timely as we endeavour to capture all that you should never miss. Informer East Africa is simply news for right now and the future.

Quality News

We only bring to you news that is verified, checked and follows strict journalistic guidelines and standards. We believe in 1. Objective coverage, 2. Impartiality and 3. Fair play.

Banner & Video Ads

A banner & video advertisement from our sponsors will show up every once in a while. It keeps us and our writers coffee replenished.