Leading Telecommunications Company in Africa, Airtel Africa has announced a 9% growth of its customer base. Currently, the company has 152.7 billion subscribers.
In a statement released on Thursday, the mobile service provider has attributed the growth to continued network investment that is supporting enhanced customer experience and drive increased 4G coverage.
Financially, the Company’s revenue has grown by 20.9% with growth accelerating to 23.1% in the fourth quarter of 2024.
Airtel Africa Chief Executive Officer, Olusegun Ogunsanya said the consistent deployment of a ‘Win with’ strategy supported the acceleration in constant currency revenue growth over the recent quarters which has reduced the impact of currency headwinds faced across most of our markets.
“This strong revenue performance is a reflection not only of the opportunity that is inherent across our markets, but also the resilience of our affordable offerings despite the inflationary pressure many of our customers have experienced. Facilitating this growth has been, and will remain, fundamental to our performance. The investment in our distribution to catalyse growth, and the technology required to support this growth has been key. Furthermore, our rigorous approach to de-risking our balance sheet and our capital allocation priorities has materially reduced the risks that the currency de-valuation has had on our business. At the beginning of March, we launched our first buyback programme reflecting the strength of our financial position. I want to say a particular thank-you to our customers, partners, governments and regulators for their support and our employees for their unrelenting contribution to the business. Our purpose of transforming lives across Africa will continue to be our highest priority”, he said.
Airtel Africa’s growth has also been registered in its mobile money business as Airtel Money has registered 20.7% growth which reflects continued investment to increase financial inclusion across Africa.
