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More Africa NewsAirtel to leverage Flutterwave alliance to extend services in Eastern and Southern Africa

October 8, 2021by myles0

Airtel Money will leverage its partnership with African payments company Flutterwave to expand its services to Eastern and Southern Africa. The partnership enables businesses integrating Flutterwave in Kenya, Malawi, Rwanda, Tanzania, Uganda and Zambia to receive payments from Airtel Money customers and transact high volumes with Airtel Money’s proprietary Fintech platforms. Airtel said the services...

More Africa NewsNigerian Businessman Appointed CEO of Airtel Africa

October 5, 2021by myles0

The Airtel Africa Group has announced the new appointment of Olusegun “Segun” Ogunsanya, as its Managing Director (MD) and CEO. Ogunsanya took the helm of the group as of 1 October 2021. This comes as former CEO, Raghu Mandava, who led Airtel Africa since 2016, was announced to be stepping down from the company’s board of directors...

More Africa NewsAirtel Africa sells minority shares in its Mobile Money branch to Qatar Holding LLC for $ 200 million

August 3, 2021by myles0

A new investor will soon join the capital of Airtel Mobile Commerce BV, the branch of Airtel Africa dedicated to Mobile Money. It will be the third after alternative finance company TPG in March and payment system company MasterCard in April. The African branch of the Indian telecoms group Bharti Airtel, Airtel Africa, announced on Friday...

More Africa NewsAirtel Africa more than doubles net profit to USD142m

August 2, 2021by myles0

Airtel Africa, the pan-African division of Indian telecoms group Bharti Airtel, has booked revenue of USD1.1 billion for the three months to end-June 2021, up from USD851 million a year earlier. Underlying EBITDA for the period grew by 42% year-on-year to USD534 million, whilst net profit for the quarter more than doubled to USD142 million from USD57...

More Africa NewsTanzania: Airtel Africa Sells Tanzania Towers At $175 Million

June 3, 2021by myles0

Airtel Africa PLC has on Wednesday, June 2, said that it has agreed to sell Airtel Tanzania’s tower portfolio to a joint venture owned by a subsidiary of SBA Communications Corp. and Paradigm Infrastructure Ltd. for $175 million. SBA Communications is an independent owner and operator of wireless communications infrastructure, while the UK-based Paradigm Infrastructure...

More Africa NewsAirtel Africa Q4 net profit doubles on year to $154 million

May 20, 2021by myles0

Revenue for the quarter ended March 31 rose 15.4% to $1.04 billion, the company said in a statement Wednesday. Bharti Airtel’s Africa business reported a net profit of $154 million in the fourth quarter this fiscal which doubled on-year and jumped 32.7% sequentially on the back of strong growth in data and mobile money revenue, besides lower interest and...

More Africa NewsAirtel Africa appoints new MD, CEO of Africa

April 30, 2021by myles0

Olusegun Ogunsanya will succeed Raghunath Mandava who will retire from his post and as director on Airtel Africa PLC’s board on 30 September, the company said. Before Airtel Africa, Ogunsanya held senior managerial roles at beverage maker Coca-Cola in Ghana, Nigeria and Kenya NEW DELHI : Bharti Airtel Ltd has appointed Olusegun Ogunsanya as the managing...

More Africa NewsKenya: Airtel Africa Refutes Plans to Exit Kenyan Market

April 26, 2021by myles0

Airtel Africa has denied reports that it plans to halt operations in Kenya. The rumours were reported by Techweez after Prasanta Das Sarmato, CEO of Airtel Kenya, assessed the viability of the company after The National ICT Policy 2019 was signed. “Equity Participation, a clause in the policy states that only companies with at least 30% substantive...

More Africa NewsAirtel Africa signs new USD500 million loan facility

April 22, 2021by myles0

Airtel Africa PLC has secured a new USD500 million loan facility with a group of relationship banks, it said on Wednesday. The telecommunication services provider said the new committed facility consists of a combination of a revolving credit facility and term loans with tenor of up to 4 years. The facility will be used to...

More Africa NewsMastercard to pump R1.5-billion into Airtel Africa’s fintech unit

April 1, 2021by myles0

Mastercard will invest US$100-million (R1.5-billion) in Airtel Africa’s mobile money operations, valuing the business at $2.65-billion (R39.2-billion), the London-listed company said on Thursday. Mastercard will hold a minority stake in Airtel Mobile Commerce, in line with Airtel Africa’s plan to monetise the mobile money business by selling up to a 25% stake in the unit, the...

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