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Tag: Airtel

Airtel Africa swings to $661m pre-tax profit in FY2025
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Airtel Africa swings to $661m pre-tax profit in FY2025

Airtel Africa has reported a strong financial turnaround in its full-year results for the period ending March 31, 2025, posting a pre-tax profit of $661 million. This is a sharp contrast to the $63 million pre-tax loss recorded in the previous fiscal year. This represents a remarkable 1,147.8% year-on-year growth in reported currency. The telecommunications […]

Airtel Africa swings to $661m pre-tax profit in FY2025
News

Airtel partners SpaceX for Starlink internet service in India

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 […]

MTN, Airtel generate N3.67trn data, voice revenue in 2024 H1
News

MTN, Airtel cut $1.2bn debt to reduce FX burden

MTN Nigeria Communications Plc and Airtel Africa have significantly reduced their foreign debt, repaying a total of $1.2 billion in 2024. This move aims to ease the burden of foreign exchange volatility and support their return to profitability. After the naira’s sharp depreciation in 2023, MTN Nigeria and Airtel Africa recorded $1.56 billion in foreign […]

News

300% rise in costs drives inevitable tariff hike – Airtel

Airtel Nigeria’s CEO, Dinesh Balsingh, has emphasized the need for tariff adjustments due to a 300% increase in operational costs over the past 18 to 24 months. In a note shared on Monday, Balsingh cited challenging economic conditions affecting the telecom sector, underscoring the importance of such measures for long-term sustainability. He noted that telecom […]

Airtel Africa swings to $661m pre-tax profit in FY2025
News

Airtel Africa launches second $100m share buyback

Airtel Africa has launched a second share buyback program, committing $100 million to returning value to its shareholders. The company disclosed this in a statement filed with the Nigeria Exchange Group, on Monday. This comes after the successful completion of an initial $100 million share buyback program launched in March this year. The company stated […]

MTN, Airtel generate N3.67trn data, voice revenue in 2024 H1
News

MTN, Airtel generate N3.67trn data, voice revenue in 2024 H1

MTN Nigeria Communications Plc and Airtel Nigeria collectively reported revenues of approximately N3.67 trillion from their data and voice services in the first half of 2024, according to an analysis of their financial results. MTN, Nigeria’s largest telecom operator with nearly 80 million subscribers, generated N1.27 trillion during this period, fueled by a substantial increase […]

Apple partners Bharti Airtel to expand streaming services in India
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Apple partners Bharti Airtel to expand streaming services in India

Apple Inc. has formed a new partnership with Bharti Airtel, India’s second-largest telecom provider, in a move that could significantly bolster its presence in the country’s competitive content market. The collaboration aims to offer free music and video streaming to many of Airtel’s 281 million customers, giving Apple’s services a much-needed boost in a market […]

Telecommunications

Airtel fixes exchange rate at N858/$ for interim dividend

An announcement made by Airtel Africa Plc has revealed that its shareholders would get the interim dividend for the six-month period that concluded in September 2023 in Naira at a rate of N858.24 per dollar. The Punch reported that the Nigerian Exchange Limited received a corporate notification on Tuesday with the headline “Announcement of Interim Dividend Currency […]

Indian firm increases Airtel stake with £57m share purchase
Business

Indian firm increases Airtel stake with £57m share purchase

A firm, Indian Continent Investment Limited has acquired £57.25m worth of shares to strengthen its ownership position in Airtel Africa. The Punch reported that the Mauritius-based Indian Continent Investment Limited purchased 53,500,000 Airtel Africa units at a cost of £1.07 per unit, according to a corporate notice it filed with the Nigerian Exchange Limited on Thursday. […]

Airtel Africa purchases 491,861 shares from Citigroup Global
Telecommunications

Airtel Nigeria denies contracting solar projects to power 600 base stations

Airtel Nigeria, a telecommunications service provider, has denied a recent allegation that it had contracted WATT Renewable Corporation to supply more than 32MW of installed solar PV and storage over 600 cell sites in Nigeria. According to The Times, the Director of Corporate Communications and CSR at Airtel Nigeria, Femi Adeniran, claimed in a statement that Airtel Nigeria’s […]

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