Airtel Africa reported an 11.4% increase in mobile services revenue for the nine months ending December 2024, reaching $1.367 billion, up from $1.227 billion during the same period in 2023.
The growth was driven by voice, data, and other mobile services. Mobile money revenue also saw significant growth, increasing by 14% in the company’s East Africa region (Uganda, Kenya, Rwanda, Tanzania, Zambia, and Malawi), rising to $549 million in 2024 from $481 million in 2023.
Across the group, mobile money revenue grew by 15.8% over the nine months starting April 2024, reaching $731 million compared to $631 million in 2023.
Airtel Africa Group CEO Sunil Taldar commented on the results:
“We have delivered an improvement in both the operating and financial performance in the last quarter driven by our refined strategy which is focused on delivering great customer experience across all touch points. An increasingly important component of this is to provide a best-in-class network, digitize 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.”
Airtel Africa has implemented several initiatives to boost financial inclusion and improve customer experience, particularly in Uganda. These include the “Vroomula Amajja” rewards campaign and partnerships with Letshego Uganda Limited for digital loans and Stabex International for cashless services. These efforts align with the company’s broader strategy to enhance network quality and simplify customer experience.
