{"id":55027,"date":"2023-12-22T21:58:28","date_gmt":"2023-12-22T21:58:28","guid":{"rendered":"https:\/\/www.africa-press.net\/malawi\/?p=55027"},"modified":"2023-12-22T08:27:54","modified_gmt":"2023-12-22T08:27:54","slug":"airtel-africa-reports-revenue-growth","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/malawi\/all-news\/airtel-africa-reports-revenue-growth","title":{"rendered":"Airtel Africa reports revenue growth"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Malawi. <\/strong><\/span>Airtel Africa which operates in 14 countries has reported 19.7% growth in constant currency revenue, with reported currency revenues up by 2.3% to US$2.6 billion (about K3 trillion). The provider of telecommunications and mobile money services has announced this in its results for the half year which ended 30 September 2023.<\/p>\n<p>The results also show that the company\u2019s customer base grew by 9.7% to 147.7 million, as the penetration of mobile data and mobile money services continued to rise, driving a 23.0% increase in data customers to 59.8 million and a 23.1% increase in mobile money customers to 36.5 million.<\/p>\n<p>\u201cAcross the group mobile services revenue grew by 18.3% in constant currency, driven by voice revenue growth of 11.5% and data revenue growth of 28.1% Mobile money revenue grew by 30.9% in constant currency,\u201d reads part of the report.<\/p>\n<p>However, the group has reported a loss after tax of US$13 million (about K15 billion) which has been largely driven by $654 million (K750 billion) of foreign exchange and derivative losses as a result of the revaluation of foreign currency liabilities in the operating companies.<\/p>\n<p>According to Airtel, the devaluation of the Nigerian naira in June 2023 resulted in a foreign exchange loss of $317 million (K363 billion) after tax. The impact of the Nigerian naira devaluation has been classified as an exceptional item.<\/p>\n<p>\u201cExcluding the impact of these exceptional items, profit after tax would be $304 million (about K348 billion), compared to $288 million (about K330 billion) in the prior period,\u201d reads the report.<\/p>\n<p>Commenting on the trading report, Olusegun Ogunsanya, Group chief executive officer, says it is a strong operating performance for the Group despite foreign exchange headwinds in many of the markets and specifically in Nigeria.<\/p>\n<p>\u201cThe resilient growth in voice, data and mobile money usage levels reflects the inherent demand for these essential services across our footprint, and our six-pillar \u2018win-with\u2019 strategy continues to ensure we capture this growth opportunity by expanding our customer base and providing the platform to enable increased usage across the network,\u201d says Ogunsanya.<\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/malawi\">Malawi<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Malawi. Airtel Africa which operates in 14 countries has reported 19.7% growth in constant currency revenue, with reported currency revenues up by 2.3% to US$2.6 billion (about K3 trillion). The provider of telecommunications and mobile money services has announced this in its results for the half year which ended 30 September 2023. The [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":55026,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,7,410],"tags":[233,371,758,314,3133,234],"class_list":["post-55027","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","category-to-homepage","tag-africa-press","tag-africa-press-malawi","tag-airtel","tag-business","tag-finance","tag-malawi"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Airtel Africa reports revenue growth - Malawi<\/title>\n<meta name=\"description\" content=\"Airtel Africa which operates in 14 countries has reported 19.7% growth in constant currency revenue, with reported curre ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/malawi\/all-news\/airtel-africa-reports-revenue-growth\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Airtel Africa reports revenue growth\" \/>\n<meta property=\"og:description\" content=\"Airtel Africa which operates in 14 countries has reported 19.7% growth in constant currency revenue, with reported curre ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/malawi\/all-news\/airtel-africa-reports-revenue-growth\" \/>\n<meta property=\"og:site_name\" content=\"Malawi\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-22T21:58:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2023\/12\/sm_1703220981.043429.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"750\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/airtel-africa-reports-revenue-growth#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/airtel-africa-reports-revenue-growth\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Airtel Africa reports revenue growth\",\"datePublished\":\"2023-12-22T21:58:28+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/airtel-africa-reports-revenue-growth\"},\"wordCount\":339,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/airtel-africa-reports-revenue-growth#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2023\/12\/sm_1703220981.043429.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Malawi\",\"airtel\",\"business\",\"finance\",\"Malawi\"],\"articleSection\":[\"all news\",\"economy\",\"head lines\",\"to-homepage\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/malawi\/all-news\/airtel-africa-reports-revenue-growth#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/airtel-africa-reports-revenue-growth\",\"url\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/airtel-africa-reports-revenue-growth\",\"name\":\"Airtel Africa reports revenue growth - 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