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Telecom: Airtel Nigeria shows sustained growth

29/10/2024
Source : ORISHAS-FINANCE
Categories: Companies

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Despite a difficult macroeconomic context marked by the depreciation of the naira and inflation, the mobile phone operation Airtel Nigeria is showing sustained growth, especially in the Internet sector.

Airtel Nigeria had 48.7 million customers, a slight increase of 0.2% in the first half of fiscal year 2025, which ended in September 2024. This growth led to an increase in Internet revenue of 44.4% in constant currency, reaching $229 million. Internet usage per customer grew by 36.0% to 8.1 GB per month (up from 5.9 GB in the previous period), while smartphone penetration increased by 6.2% to 48.5%. Smartphone Internet usage reached 10.9 GB per month, up from 8.6 GB in the previous period. Airtel Africa's operating expenses have increased. Airtel Nigeria's earnings before interest, taxes, depreciation and amortization (EBITDA) stood at $238 million, registering a decrease of 49.7% at the current exchange rate, but an increase of

22.3% in constant currency.

Faced with the challenges of the local market, Airtel Nigeria implemented strategies to mitigate the impact of naira fluctuations.

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