Airtel Africa's Profit Surge: Bridging the Digital Divide

Airtel Africa reported a substantial jump in profit after tax, reaching USD 156 million in the June quarter, a remarkable rise from USD 31 million in the same period last year. This growth was fueled by customer acquisition, lower capital expenditure, and favorable foreign exchange movements.

CEO Sunil Taldar highlighted the 9% growth in the customer base and a 17.4% increase in data users, which demonstrate effective strategies and improvements in customer experience. With smartphone penetration at 45.9%, the company sees room for expansion and a pivotal role in narrowing the digital divide.

With revenue up by 22.4% to USD 1,415 million and a planned increase in full-year capex, Airtel Africa is focused on advancing financial inclusion through its expanding mobile money services, serving a growing customer base of nearly 46 million.

(With inputs from agencies.)