Airtel, Nigeria’s second largest mobile phone company appears to have resigned to losing the voice market share to MTN, however, it is clearly winning the internet data market going by its recently released half-year financial results.
According to the financial report, Airtel in 6 months, Airtel raked in $199 million from data sales in Nigeria, a whopping 76 per cent higher than the $133 million it reported the same period in 2018 as against MTN 37 per cent in the same period.
Much of Airtel’s earnings and performance come from its Nigerian operations, posting a revenue growth 8.4 per cent across its African operations with a revenue of $1.6bn in the first 6 months of 2019 as against $1.5bn made last year.
The company reported a revenue of $640 million, a 23 per cent rise compared to the year before, and data accounted for most of the profit made by the company.
According to its CEO, Raghunath Mandava, “Our investments ahead of the industry in LTE network along with our simple and intuitive customer journeys have helped grow data consumption by 81 per cent and data revenue growth by 37.8 per cent.”