
Telecoms firm Airtel Africa has reported an 11.4% increase in mobile service revenue in East Africa, driven by growth in data and mobile money services.
The company, which operates in Uganda, Kenya, Rwanda, Tanzania, Zambia and Malawi, said revenue from mobile services in the region rose to $1.367bn in the nine months to December 2024, up from $1.227bn in the same period the previous year.
Airtel Africa also reported a 14% increase in mobile money revenue in East Africa, to $549m, as more customers turned to digital financial services. The growth in mobile money revenue was driven by an increase in the number of customers using Airtel’s mobile money services, as well as an increase in the value of transactions.
The company’s Group CEO, Sunil Taldar, said the growth was driven by Airtel Africa’s focus on delivering a great customer experience. “We have delivered an improvement in both the operating and financial performance in the last quarter, driven by our refined strategy which is focused on delivering great customer experience across all touch points,” Mr Taldar said.
Airtel Africa’s growth in East Africa is seen as a key driver of the company’s overall performance, with the region accounting for a significant portion of its revenue. The company’s focus on expanding digital financial services and promoting financial inclusion is also expected to continue driving growth in the region.
In Uganda, Airtel has implemented several initiatives to promote financial inclusion and enhance the customer experience. These include a rewards campaign and strategic partnerships to provide digital loans and cashless services.
Airtel Africa’s results come as the company continues to expand its operations across Africa. The company has been investing heavily in its network and services, and has been expanding its mobile money services to more countries.
The company’s focus on digital financial services is seen as a key area of growth, as more Africans turn to mobile phones to manage their finances. Airtel Africa’s mobile money services allow customers to store, send and receive money using their mobile phones.
Airtel Africa’s shares were up 2% in early trading on the London Stock Exchange following the release of the company’s results.