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Tag: Airtel Africa

Airtel Africa swings to $661m pre-tax profit in FY2025
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) […]

Airtel Nigeria to Build West Africa’s largest data centre to rival MTN
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 […]

Airtel Africa swings to $661m pre-tax profit in FY2025
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 to sell 20% Ugandan subsidiary stake via IPO 
Business

Airtel Africa to sell 20% Ugandan subsidiary stake via IPO 

Airtel Africa Plc has told its Nigerian shareholders that it intends to use an Initial Public Offering to offer local investors a 20% stake in its Ugandan subsidiary, Airtel Uganda Limited. The telecommunications firm informed the Nigerian Exchange Limited on Wednesday that this would entail the sale of 8 billion common shares of the domestic entity. […]

Airtel launches 5G network in Kenya
News Tech

Airtel launches 5G network in Kenya

Following months of testing, Airtel is now the second telco to roll out 5G in Kenya after Safaricom did so in October 2022. Eliud Owalo, Kenya’s cabinet secretary for ICT, and Ezra Chiloba, the director-general of the Communications Authority of Kenya (CA), attended the event where Airtel, the country’s second-largest network operator, introduced the product. […]

Airtel Africa purchases 491,861 shares from Citigroup Global
News

Airtel Africa awards top directors £2.3m in shares

Two of Airtel Africa Plc’s top directors, Olusegun Ogunsanya and Jaideep Kishore Paul, have received shares worth £2.3 million. According to the company’s announcement, the shares were given out in accordance with the company’s Long-Term Incentive Plan, which was created to reward directors for their long-term success. The CEO of the company, Ogunsanya, received 1,420,828 […]

Airtel
Business

Airtel Africa renews spectrum licence with N59b

A telecommunications company, Airtel Africa, has stated that its Nigerian subsidiary, Airtel Networks Limited, Airtel Nigeria, has paid N58.7 billion to renew its 2×10 MHz 2100 MHz spectrum license with the Nigerian Communications Commission. This information was disclosed in a statement made by the company’s Company Secretary, Simon O’Hara, accessed by Nairametrics. The statement also […]

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