Airtel Africa posts double-digit revenue growth and 82% surge in net profit on the back strong cost control and increased usage levels

Airtel Africa has reported a revenue growth of 20.6 per cent for the year FY22, to $4,714 million, and 17.8 per cent for Q4FY22.

Airtel Africa is a leading provider of telecommunications and mobile money services, with a presence in 14 countries primarily in East Africa and Central and West Africa.

Constant currency underlying revenue grew 23.3 per cent for the year and 19.1 per cent in Q4.

Constant currency underlying revenue growth was strong in all regions -- Nigeria up 27.7 per cent, East Africa up 22.7 per cent and Francophone Africa up 17.2 per cent and across all key services, with revenue in voice up 15.4 per cent, Data up 34.6 per cent and Mobile Money up 34.9 per cent.

Further, profit after tax grew by 82.0 per cent to $755 million.

The Board recommended a final dividend of 3 cents per share, making total dividends at 5 cents per share for the entire fiscal.

Segun Ogunsanya, Airtel Africa Chief Executive Officer, said: "This is another strong set of results for Airtel Africa, demonstrating our solid execution as we continue to enrich the lives of a growing number of people through leveraging the sizeable opportunity to promote digital and financial inclusion across our markets."

The company has delivered strong double-digit growth in revenues across all our regions and all our key services, with improving margins driven by strong cost control, and expanding cash generation which is enabling it to continue to invest in it's network and services and expand distribution, as well as strengthening balance sheet and increasing returns to shareholders.

"We are connecting more customers in new and existing coverage areas and driving usage levels and ARPUs to new highs. We have successfully executed on a number of strategic initiatives in the year, with tower sales completed in four countries, $550m of minority investments secured for our mobile money business and a successful buyout of minorities in our Nigerian operation."

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