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Tag: Airtel Africa

Telecommunications

MTN, Airtel sign network sharing agreements in Nigeria, Uganda

MTN Group and Airtel Africa has partnered to share network infrastructure in Uganda and Nigeria. This collaboration, aimed at promoting digital and financial inclusion across Africa, will also ensure compliance with local regulatory and statutory requirements. In a joint statement released on Wednesday, the two companies stated that the partnership aims to strengthen their commitment […]

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Airtel increases data, call tariffs following NCC approval

Alex Omenye Airtel Nigeria has announced an upward revision of its data and voice tariffs, aligning with the Nigerian Communications Commission’srecent approval of a 50% increase. The new pricing structure, implemented just a week after MTN Nigeria introduced a similar adjustment, marks a significant shift in the country’s telecommunications landscape. Under the revised rates, Airtel’s […]

News Telecommunications

Airtel to buy 406,000 more shares from Citigroup Global Markets

Airtel Africa stated on August 7, 2024, that it will be acquiring further shares from Citigroup Global Markets as part of its share repurchase program. According to the company’s shareholders’ approval, 406,000 common shares were purchased at a price of 0.5 USD each on the London Stock Exchange. At a reported volume-weighted average pay price […]

Telecommunications giant Airtel announced on Tuesday a partnership with SpaceX to introduce Starlink’s high-speed satellite internet services in India. This marks a significant step for Elon Musk’s company, which has been seeking entry into the world’s second-largest internet market for years. However, the agreement does not signify an immediate rollout. Airtel clarified that the launch remains contingent on regulatory clearances from the Indian National Space Promotion and Authorization Center and the Department of Telecommunications. SpaceX has faced regulatory hurdles before. In 2022, it was forced to refund preorders for Starlink equipment after the Indian government reprimanded the company for offering services without the necessary licenses. The delay in approvals is reportedly due to concerns over security, privacy, pricing, and opposition from domestic competitors. The deal is seen as a setback for Reliance Jio, India’s largest telecom provider, which has been working to block Starlink’s entry while advancing its own satellite internet plans. SpaceX’s latest move suggests a more calculated approach, aligning with recent diplomatic agreements between India and the U.S. Although financial details of the partnership remain undisclosed, Airtel plans to sell Starlink hardware through its retail network and offer the service to enterprise clients. SpaceX will also leverage Airtel’s extensive ground infrastructure to enhance its network capabilities. With India’s vast population of 1.4 billion but only 950 million internet subscribers, satellite internet providers see immense potential. Legislative changes, including a 2023 telecom bill allowing spectrum allocation for satellite services and government backing in 2024, could facilitate Starlink’s eventual launch. Notably, Airtel also has an existing partnership with Eutelsat OneWeb, which gained approval for satellite broadband services last year, suggesting a strategic diversification of its satellite internet portfolio. “Starlink will complement and enhance Airtel’s suite of products to ensure reliable and affordable broadband for our Indian customers – wherever they live and work,” said Gopal Vittal, Managing Director of Bharti Airtel. “We are excited to work with Airtel and unlock the transformative impact Starlink can bring to the people of India,” added Gwynne Shotwell, President and COO of SpaceX.
News

Airtel Africa faces $4m monthly revenue loss over NIN verification

Telecom giant Airtel Africa has warned it could lose up to $4 million in monthly revenue due to ongoing challenges with verifying customers’ National Identification Numbers in Nigeria. As the deadline of July 31, 2024, approaches, Airtel Africa has yet to verify NINs for approximately 4.9 million of its customers. The Nigerian Communications Commission (NCC) […]

Telecommunications

Airtel Africa gains N665bn in a day as NGX recovers

Alex Omenye Airtel Africa on Thursday, saw an impressive trading day, with 1.009 million shares exchanged, resulting in a significant boost to the group’s market value, which surged by N665 billion to reach N8.08 trillion. This marks an 8.97% increase from the previous day’s value of N7.41 trillion. Airtel’s stellar performance played a pivotal role […]

Airtel Africa to build 34MW data center in Nigeria
Telecommunications

Airtel Africa to build 34MW data center in Nigeria

The telecommunications company Airtel Africa has revealed plans to construct its first 34 megawatt NXtra data centre In Lagos, Nigeria. The facility’s groundbreaking will take place later this month, according to a statement from the firm, and will be attended by the governor of Ogun State, Prince Dapo Abiodun, the governor of Lagos State, Babajide […]

Airtel Africa begins $100m share buy-back
Telecommunications

Airtel Africa begins $100m share buy-back

Airtel Africa Plc has initiated its share buyback program following the announcement on February 1, 2024, after releasing its nine-month results up to December 31, 2023. The company disclosed this information in a notice to the Nigerian Exchange Limited and the investment public. As per the statement signed by Alastair Jones of Airtel Africa Investor […]

Telecommunications giant Airtel announced on Tuesday a partnership with SpaceX to introduce Starlink’s high-speed satellite internet services in India. This marks a significant step for Elon Musk’s company, which has been seeking entry into the world’s second-largest internet market for years. However, the agreement does not signify an immediate rollout. Airtel clarified that the launch remains contingent on regulatory clearances from the Indian National Space Promotion and Authorization Center and the Department of Telecommunications. SpaceX has faced regulatory hurdles before. In 2022, it was forced to refund preorders for Starlink equipment after the Indian government reprimanded the company for offering services without the necessary licenses. The delay in approvals is reportedly due to concerns over security, privacy, pricing, and opposition from domestic competitors. The deal is seen as a setback for Reliance Jio, India’s largest telecom provider, which has been working to block Starlink’s entry while advancing its own satellite internet plans. SpaceX’s latest move suggests a more calculated approach, aligning with recent diplomatic agreements between India and the U.S. Although financial details of the partnership remain undisclosed, Airtel plans to sell Starlink hardware through its retail network and offer the service to enterprise clients. SpaceX will also leverage Airtel’s extensive ground infrastructure to enhance its network capabilities. With India’s vast population of 1.4 billion but only 950 million internet subscribers, satellite internet providers see immense potential. Legislative changes, including a 2023 telecom bill allowing spectrum allocation for satellite services and government backing in 2024, could facilitate Starlink’s eventual launch. Notably, Airtel also has an existing partnership with Eutelsat OneWeb, which gained approval for satellite broadband services last year, suggesting a strategic diversification of its satellite internet portfolio. “Starlink will complement and enhance Airtel’s suite of products to ensure reliable and affordable broadband for our Indian customers – wherever they live and work,” said Gopal Vittal, Managing Director of Bharti Airtel. “We are excited to work with Airtel and unlock the transformative impact Starlink can bring to the people of India,” added Gwynne Shotwell, President and COO of SpaceX.
Telecommunications

Airtel Africa hits $2m profit in nine months

Bisola David The financial results for the nine months that ended on December 31, 2023, have been made public by Airtel Africa Plc. The Times reported that compared to the $523 million reported in the same time of the previous fiscal year, the group’s profit after tax in 9M 2024 was $2 million, a 99.6% […]

Tech

Airtel Africa to buy back its shares worth $100m

Telecommunications conglomerate Airtel Africa has disclosed intentions to repurchase $100 million worth of its shares from the market. “In light of our consistent strong operating performance and given current leverage, the Board intends to launch a share buy-back program of up to $100m, starting early March 2024 over 12 months,” Airtel Africa’s CEO, Segun Ogunsanya, […]

Airtel Africa CEO Ogunsanya retires, names Taldar successor
Business

Airtel Africa CEO Ogunsanya retires, names Taldar successor

Airtel Africa stated on Tuesday that Chief Executive Officer Olusegun ‘Segun’ Ogunsanya will retire on July 1, 2024, and has thus, appointed Sunil Taldar as his successor. According to Business Day, Taldar, who joined Airtel Africa as Director Transformation in October 2023, will begin the transition to CEO with Ogunsanya. Following the transition phase, Taldar will […]