The combined market capitalization of stocks worth over one trillion (SWOOTs) appreciated by 1.58% to close at N20.74 trillion from N20.41 trillion the previous week, reflecting a gain of N316.86 billion. Stocks included in this classification are Airtel Africa, BUA Cement, Dangote Cement, Nestle and MTNN Plc. Stock Performance: Airtel Africa Plc’s share price was up by 10.00%. In figure, Read More
Airtel Africa has acquired an additional spectrum to bolster its service delivery in the Democratic Republic of Congo (DRC). According to the company, the 58 Megahertz (MHz) spectrum spread across 900, 1800, 2100, and 2600 MHz bands, for a gross consideration of $42 million. The company in a notice to the NGX on Monday said the additional spectrum will support Read More
Airtel Africa Plc has announced that its payment service bank subsidiary, SmartCash, has commenced operations in Nigeria. This was disclosed in a statement signed by the company’s secretary, Simon O’Hara and filed with the Nigerian Exchange Group (NGX). The statement read, “Airtel Africa, a leading provider of telecommunications and mobile money services, with a presence in 14 countries across Africa, Read More
Telecommunications operator, Airtel Nigeria, has said that only 35.9 million out of its 44.4 million active customers had linked their National Identification Number (NIN) with their SIMs as of the end of April this year. This means that 8.5 million customers of the telco are yet to comply and have been placed on ‘receive only’ status, meaning all their outgoing Read More
Airtel Africa Plc has reported profit after tax of $755 million for the full year financial result ended March 31, 2022. The amount represents an increase of 82.0 per cent compared with $415 million recorded in the comparative period of 2021. Operating profit also grew by 37.2 per cent to $1,535 million in the reported currency from $1,119 million in Read More
Airtel Nigeria has been granted a full super-agent license from the Central Bank of Nigeria (CBN). This is coming six months after Airtel announced it had secured the license in principle. The latest development made public in a press release titled “NIGERIA SUPER AGENT FULL LICENSE APPROVAL” signed by Simon O’Hara, the Company Secretary means Airtel has a full super-agent Read More
The federal government has finally taken the hard option to get Nigerian mobile phone users link their numbers to the National Identification Number (NIN) with a directive to telecommunication companies to bar all outgoing calls on unlinked lines from today, April 4, 2022. The directive was issued via a joint press statement by Ikechukwu Adinde, Director, Public Affairs, the National Communication Commission (NCC), Read More
Kogi State Internal Revenue Service (KGIRS) has sealed the network facilities of two telecommunications company, the Globacom Nigeria Limited and Airtel networks Limited for their refusal to remit tax liabilities worth over N360 million to the state government since 2017. Speaking shortly after the sealing of the facilities of the two companies at the Mount Patti Hill, Lokoja and other Read More
Airtel Africa plc has reported profit after tax of $514 million for the nine months financial year ended December 31, 2021. The company result released over the weekend showed that it’s PAT increased by 97.3 per cent against $261 million recorded the previous year. Also profit before tax up by 79.4 per cent to $864 million from $482 million achieved Read More
A Nigerian, Emeka Oparah, has been appointed Vice President, Corporate Communications & CSR, in Airtel Africa Plc. Mr Oparah, who disclosed his new appointment in a Facebook post on Tuesday, has spent 19 and a half years working in Airtel Nigeria. “Today, after 19 and a half years in Airtel Nigeria, I formally resumed a new position in Dubai, UAE, Read More
The decision to sell its tower assets in Tanzania, making a fortune of $159 million has led to a surge in Airtel Africa’s market capitalization as its share value hit an All-time high with investors making over N358.90 billion in profits. Airtel Africa’s gain was also triggered by a 9.09 percent appreciation in the equity value of the Bharti Airtel Read More
The Nigerian Communications Commission (NCC) Thursday announced that three telecoms companies qualified as approved bidders of the forthcoming 3.5 gigahertz spectrum auction for the deployment of Fifth-generation networks. The telecoms are, MTN Nigeria Plc., Mafab Communications Limited, and Airtel Networks Limited.A statement signed by the director, Public Affairs, Dr Ikechukwu Adinde, in Abuja, said the commission noted that the qualified Read More
Airtel Africa PLC Tuesday said that three investors, Qatar Investment Authority (QIA), TPG, a U.S. private equity firm, and Mastercard have increased their investments in Airtel Money to $500 million. The telecommunications giant made the disclosure in a notice signed by the group company secretary, Simon O’Hara, posted by the Nigerian Exchange Limited and seen by PREMIUM TIMES. Airtel Mobile Read More
Airtel Africa, a leading telecommunications company with presence in 14 countries across the African continent, has announced the first closing of the transaction to sell its telecommunications tower company in Madagascar to Helios Tower Plc. According to a statement signed by the Group Company Secretary, Simon O’Hara, and made available on the website of the Nigerian Exchange Limited (NGX), Airtel Read More
Airtel Africa and UNICEF announced Monday in a press release that a five-year pan-African partnership to help accelerate the roll-out of digital learning through connecting schools to the internet and ensuring free access to learning platforms across 13 countries. By providing equal access to quality digital learning, particularly for the most vulnerable children, the partnership will help to ensure that Read More
Nigeria’s indigenous telecom giant, Glo is closing on its rival in the telecom industry as more data subscribers dumped MTN and Airtel, losing a combined 3.52 million data subscribers in the second quarter of 2021, according to latest statistics obtained from the Nigerian Communications Commission. MTN Nigeria was the highest loser during the second quarter of 2021, losing 1.98 million Read More
Airtel Africa Plc has recorded revenue of $1.112 billion for the first quarter financial year ended June 30, 2021. The amount represents a growth of 30.7 per cent compared with $851 million reported in the same period of 2020. The company’s unaudited result showed that it recorded strong revenue growth across all regions, growing by 38.2 per cent in Nigeria Read More
Telecommunication giants MTN and Airtel Nigeria reported massive growth in their airtime credit businesses otherwise termed ‘borrow now, pay later” services, according to their annual report for the quarter ended June 2021. Nigeria’s growing youth population has become the focus for quick loan schemes with businesses exploiting the huge demand for easy credit and the temptation it provides for their Read More
More data subscribers are dumping leading GSM providers, MTN, Airtel, Glo and 9mobile over what telecom experts attributed to leaner income, high pricing, service quality and the presence of alternative Internet Service Providers (ISP). According to data sourced from the Nigerian Communications Commission, NCC, the four GSM operators lost over 8 million data subscribers between March 2021 and May 2021. Read More
Telecom giant, Airtel, has entered into a strategic partnership with Africa’s leading streaming platform, Boomplay to give its subscribers more access to affordable streaming on Boomplay. Boomplay is a music streaming and download service provided by Transsnet Music Limited. The company has regional offices in Tanzania, Kenya, Ghana and Nigeria. The app is available globally on mobile through the Google Read More
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