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Browsing: Airtel Africa
Competition in the remittance space has intensified with the entry of new players as the race for a share of the annual $95.6 billion in cross-border remittances flowing into Africa heats up. Airtel Africa has partnered with MasterCard to unveil a new service for cross-border remittances. Their deal will see customers in Kenya and 14 other African nations become the first beneficiaries of the service.
Airtel Africa and MasterCard will provide a seamless digital experience for consumers, connecting them with millions of peers worldwide. With a mushrooming diaspora community, remittances are now the largest source of forex in many African economies.…
- Bharti Mittal is the Founder and Chairman of Bharti Enterprises, one of India’s foremost first-generation corporations.
- It has interests in telecom, space communications, digital solutions, insurance, foods, real estate and hospitality.
- Bharti Airtel, the flagship company of Bharti Enterprises, has operations in 17 countries. It ranks amongst the top three mobile operators globally.
Sunil Bharti Mittal, an Indian business magnate and philanthropist, was in Kenya last week managing a significant announcement by Airtel Kenya, a division of Airtel Africa.
During his visit, Airtel Kenya announced plans to expand its network coverage to meet the growing demand for data services in the country. The new expansion will add 349 sites into its infrastructure network by December.
What's more, an additional 300 sites are in the pipeline, the management added. The new investment represents the company’s commitment to enhancing connectivity and improving service quality.
We aim to bridge digital divide—Bharti Mittal
Mobile services are now the main means of communication for the majority of the world’s population, supporting economic growth and connecting communities.
According to GSMA, effective spectrum licensing is critical to encourage the investment required to expand mobile access, meet the increase in demand for data services and enhance the quality and range of services offered.
There are 3 types of spectrum licences;
- A licence to transmit radio waves and have no interference. This is the most common type of spectrum licence. It grants the right to transmit on a specified frequency and stop others from transmitting interfering signals on the same frequency.
- A licence to have no interference on a specified frequency.
- A licence to transmit emissions without protection from interference.
Airtel Africa has confirmed the purchase of additional spectrum licences from the Communications Authorities in several African countries.
Richard Kadoro, a telecommunications researcher at the Computer Association of …
Airtel Network Kenya, the second biggest telecommunications network, saw shareholder loans from its holding firm, Bharti Airtel Kenya BV, rise by 12.01 per cent from sh46.6 million in 2020 to sh52.2 million in the year ending December 2020.
The causes of the financial losses have been additional lending, forex losses as the shilling depreciate, and postponement in paying interests.
Capitalization interest due to being paid stands at Sh1.34 billion, which has disrupted cash flow in the firm.
Airtel Kenya said that the issued shareholder funds, revenue generated from its operations, and borrowing from external lenders had kept the company afloat.…
- Airtel Africa and UNICEF said the deal will see them connect schools to the internet and ensure free access to learning platforms across 13 countries
- Airtel Africa is the first African private sector partner to make a multimillion-dollar commitment to ‘Reimagine Education’, a global initiative launched by UNICEF in 2020
Airtel Africa and UNICEF have entered into a five-year pan-African partnership to help accelerate the roll-out of digital learning.
In a statement, the partners said the deal will see them connect schools to the internet and ensure free access to learning platforms across 13 countries.
These are Congo, the Democratic Republic of the Congo, Gabon, Kenya, Madagascar, Malawi, Niger, Nigeria, Rwanda, Tanzania, Uganda and Zambia.
Airtel Africa has revealed that its financial and in-kind contribution for this partnership is $57 million over five years to 2027.
By providing equal access to quality digital learning, particularly for the most vulnerable children, …
Qatar Holding LLC, an affiliate of the Qatar Investment Authority (QIA) is set to invest $200 million in Airtel Africa’s mobile money business dubbed Airtel Mobile Commerce BV (AMC BV).
This follows an agreement that was signed between the two firms.
According to the signed agreement, QIA will hold a minority stake in AMC BV upon completion of the Transaction (alongside other minority investors), with Airtel Africa continuing to hold the majority stake. The Transaction is subject to customary closing conditions.
A statement released by the telecom’s operator states that deal will close in two tranches, $150 million invested at the first close. The remaining $50 million will be invested at the second close.
QIA will be entitled to appoint a director to the board of AMC BV and to certain customary information and minority protection rights.
Airtel records a massive rise in profit of $1.03 billion in Q1 2021 due to an increase in data and mobile money subscribers between January and March 2021.
In its latest financial report for Q1 2021, Airtel saw a significant rise in revenue by 21.7 per cent from Q1 of 2020 which recorded $899 million in revenue. However, due to constant currency change, the revenue growth is at 15.4 per cent.
In Q1 2021, Airtel recorded a $215 million increase in profit before tax from $97 million recorded in Q1 2020 despite recording a 6.9 growth in its total subscribers.
In Q1 2021 Airtel recorded profits of $154 million in profits after tax compared to $77 million recorded in 2020.
Data service saw an increase of 31.7 per cent to record $315 million in revenue compared to $253 million in Q1 2020 while mobile money recorded a 38.7 per cent …
Alongside the investment, the Group and Mastercard have extended commercial agreements and signed a new commercial framework which will deepen their partnerships across numerous geographies and areas including card issuance, payment gateway, payment processing, merchant acceptance and remittance solutions, amongst others.
Following the announcement on 18 March 2021 of US$200m investment in AMC BV by TPG’s The Rise Fund, and the sale of the Group’s telecommunication towers companies in Madagascar and Malawi on 23 March 2021, the Transaction is a continuation of the Group’s pursuit of strategic asset monetisation and investment opportunities. …
The first quarter of 2021 ended on a great note as two African fintech businesses gained unicorn status, a rare fit amidst a ragging global pandemic that is finally being aggressively tackled by the speedy supply of much-needed vaccines. Such is the African story – a trail of surprises in the midst of uncertainty. On 18th March 2021, Airtel Africa announced it had received a $200M investment from TPG’s Rise Fund at a valuation of $2.65B making it the latest African unicorn. Exactly a week before, March 10th, 2021, Flutterwave from Nigeria also announced a $170M investment from Avenir Growth Capital, Tiger Global Management and others at a billion-dollar valuation. In the tech world hitting a billion-dollar valuation is a big deal – you earn the name Unicorn, a mythical animal that represents the statistical rarity of successful ventures coined in 2013 by …
Airtel recorded a 14 per cent growth in revenue to $ 659 million in East Africa for the six months ending September citing an increase in subscribers.
According to Airtel’s financial report, voice revenues saw a growth of 5.4 per cent to $312 million across the East African market which includes Uganda, Kenya, Tanzania, Rwanda, Malawi and Zambia.
Data service recorded a 21.2 per cent growth in revenues to $ 174 million while mobile money as well saw a 33.2 per cent growth in revenues to $132 million during the period under review.
The telecom said that the double growth in revenue is due to an increase in subscriber numbers from 12.1 million to 14.9 million as well as 4G infrastructure network expansion from 60 per cent to 68.6 per cent of the sites in the period under review.
“Our mobile network in Uganda, Zambia and Malawi now consists of …