Airtel Africa, a leading provider of telecommunications and mobile money services in Africa, has announced its financial results for the nine-months ending December 2024, reporting an 11.4% growth in mobile services revenue to $1,367 million from $1,227 million during the same period in 2023. Airtel’s mobile services include; voice, data and other services.
Furthermore, the Group reported a 14% growth in mobile money revenue in its East African region comprising of; Uganda, Kenya, Rwanda, Tanzania, Zambia and Malawi. The Group’s East Africa mobile money revenue increased to $549 million in 2024 from $481 million in December 2023
Across the Group, voice data and Mobile money services remain the biggest drivers of growth. While voice still leads but mobile money revenue is growing faster.
Over the nine-month period starting April 2024, mobile money revenue grew by 15.8%, reaching $731 million in December 2024 compared to $631 million in 2023. This surge in mobile money adoption underscores Airtel’s commitment to transforming digital financial services across East Africa and the continent at large.
Sunil Taldar, Airtel Africa Group CEO on the trading update said, “We have delivered an improvement in both the operating and financial performance in the last quarter driven by our refined strategy which is focused on delivering great customer experience across all touch points. An increasingly important component of this is to provide a best-in-class network, digitize and simplify the customer journey. Our focus on speed and quality execution is enabling us to unlock the substantial opportunities for growth across our markets and business segments, where demand remains significant, resulting in a further acceleration of constant currency revenue growth to 21.3% in the most recent quarter.”
In Uganda, Airtel has implemented several initiatives to promote financial inclusion and enhance the customer experience. The successful rewards campaign, Vroomula Amajja along with strategic partnerships such as the one with Letshego Uganda Limited to provide digital loans to Airtel Money customers, and Stabex International for cashless services has made the customer journey seamless and more rewarding. These efforts are part of Airtel Africa’s broader strategy to deliver a best-in-class network and simplify the customer experience across all touchpoints.
Airtel Africa remains committed to expanding financial services and digital solutions, ensuring better connectivity and economic empowerment across Uganda and the continent.
