Airtel Africa revenue in the nine months to December 2022 accelerated $3.9 billion at the end of 2022.
This information was disclosed in its annual audited report of 2022.
The company cited improvement in mobile services income in Nigeria, East Africa and Francophone Africa as pivot of growth.
Altogether, the mobile services revenue of the wireless operator jumped by 15.9%, the most growth recorded in its Nigerian operation at 20.9%.
While voice revenue advanced at the pace of 12.7%, data revenue did at 22.3, according to its unaudited earnings report issued on
Revenue from the mobile money business of the London-headquartered telco expanded by 29.8%, aided by about one-third of growth in East Africa and a 21.7% increase in Francophone Africa. Expenses leaped by 11.7% to $2 billion.
“I am particularly excited by the performance of our mobile money business, with annualized transaction value reaching nearly $100bn, as we continue to drive financial inclusion in the continent,” CEO Segun Ogunsanya said.
“Despite the inflationary pressures across our markets, the strong revenue performance in the first nine months of the year, combined with a continued focus on cost optimization, contributed to EBITDA growth of over 17% in constant currency, with stable EBITDA margins.”
Airtel Africa committed nearly half a billion dollars to 4G and 5G spectrum across major markets in the review period, the chief executive added.