Airtel Africa registers 82% growth in net profit

Airtel Africa has clocked an increase of 20.6 percent in its revenue for the year FY22, to $4,714 million, and 17.8 percent for the third quarter of FY22. Airtel Africa is one of the leading telecommunications and mobile money services providers. It currently provides its services in in 14 countries primarily in East Africa and Central and West Africa. Constant currency underlying revenue rose by 23.3 percent for the year and 19.1 percent in Q4.

Constant currency underlying revenue growth increased by 27.7 percent in Nigeria, 22.7 percent in East Africa, and Francophone Africa witnessed a growth of 17.2 percent. Other than this, profit after tax increased by 82.0 percent to $755 million.

After registering strong results, the Board of Airtel Africa recommended a final dividend of 3 cents per share which took the total dividends to 5 cents per share for the entire fiscal year. After the release of the results, Segun Ogunsanya, Airtel Africa Chief Executive Officer, commented: "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."