From losses to $248 Million Profit: Airtel Africa’s impressive nine-month turnaround
- Airtel Africa reported a profit of $248 million for the nine months ending December 2024, up from $2 million in 2023.
- The company's revenue declined by 5.8% to $3.63 billion due to currency devaluations in Nigeria, Malawi, and Zambia.
- Mobile money customers grew by 18.3% to 44.3 million in 9M 2024.
Airtel Africa's strong financial turnaround amidst challenging conditions highlights the resilience of the telecom sector in Africa. The focus on enhancing customer experience and network investment is crucial for sustaining growth. However, the company must navigate ongoing currency risks and operational challenges to maintain this momentum.
