More Africa NewsAXIAN Telecom Reports 13.4% YoY Revenue Growth in Q2 2023

August 31, 2023by myles0

Madagascar-based AXIAN Telecom, a pan-African telco group, has announced its Q2 2023 financial results, showcasing a 13.4% year-on-year increase in revenue to USD253.2 million. This positive outcome was mainly attributed to significant revenue expansion in Tanzania, which surged by 18.3%, and Madagascar, which grew by 12.6%. Moreover, the group’s adjusted EBITDA experienced a substantial rise of 26.0% to reach USD114.2 million.

The telecommunications conglomerate revealed that it accumulated a total of 31.68 million revenue-generating subscribers (RGS) by the end of June, marking a growth from 28.27 million during the previous twelve months.

AXIAN Telecom operates across various African countries through its subsidiaries, spanning from Madagascar and Tanzania to Togo, Senegal, Reunion, Mayotte, and Comoros. Beyond its core telecommunication services, the company has also established business interests in telecommunications-related sectors, including tower infrastructure and fintech companies, in regions such as Uganda and Cote d’Ivoire.

The company’s recent financial report showcases its commitment to growth, underscored by the continuous expansion of its subscriber base and financial performance, further solidifying its presence in the African telecommunications landscape.

Source: Tech Africa News

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