Airtel Africa News
Airtel Africa Signs $124-Million Credit Facility with Citi Bank
Sourced from Comms MEA Airtel Africa, one of Africa’s largest telecom groups with a presence in 14 countries across the continent, today announced the signing of a $125-million revolving credit facility with investment banking group Citi through its branch offices/subsidiaries in sub-Saharan Africa. The telecom says that this facility is in line with its strategy to raise debt in its local operating companies, and will include both local currency and US dollar-denominated debt. The facility has a tenor up to September 2024 and will be used to support Airtel Africa’s operations and investments in four of its subsidiaries. Airtel says the facility provides potential interest rate savings in exchange for achieving social impact milestones relating to digital inclusion and gender diversity, wi...
Airtel Africa Wants to Get Rid of its Towers to Cut Costs
Sourced from Comms MEA Pan-African telecommunications firm Airtel Africa has reportedly stopped investing in new tower infrastructure in Kenya, and other markets across the continent, as it prepares to sell most of its already-existing infrastructure assets. This is in efforts to reduce ownership of infrastructure as Airtel Africa looks towards leasing instead, according to Business Daily Africa. The International Finance Corporation (IFC), which is funding Airtel Africa, stated in an investment disclosure that Airtel is looking to focus on a cost-saving “asset-light business model” and has “divested most of its telecommunications tower portfolio” with the telecom operator now apparently in the final stages of divesting the majority of its remaining tower portfolio to other tower companies...
Airtel Nigeria Upgrades All 2G & 3G Cell Sites to 4G
Sourced from allAfrica. Airtel Nigeria, the West African arm of telecom Airtel Africa, has announced that it is upgrading all of its cell sites to 4G technology. The operator says that now its 50-million customers in Nigeria can “tap into flawless voice call experiences,” as all of the company’s 2G and 3G sites have been upgraded to the advanced network standard of 4G. Surendran Chemmenkotil, CEO and MD of Airtel Nigeria, says the operator is committed to delivering mobile broadband to the whole country, including even remote locations, as he says that connectivity has a direct correlation with “boosting the nation’s GDP.” “Our commitment is to our customers and we are focused on ensuring that they continue to get the right and the best experience on our network. This exercise is inspired ...
Airtel Africa Could Soon Operate as a “Super Agent” in Nigeria
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Airtel Africa & UNICEF Bring Digital Education to Children in 13 African Countries
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Nigerian Businessman Appointed CEO of Airtel Africa
Segun Ogunsanya, newly appointed Managing Director and CEO. 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 in October 2021. “We are delighted to appoint Segun Ogunsanya as the Group’s next Chief Executive Officer. He has displayed significant drive and energy in turning around the Nigeria business by focusing on network modernisation, distribution, and operational efficiency,” said Airtel Chairman, Sunil Bharti Mittal, when Ogunsanya was first announced to replace Mandava. A Businessman of Some Repute Previo...
Top 10 Largest Telecom Companies in Africa
Sourced from the Guardian Nigeria. The COVID-19 pandemic has spurred digital transformation initiatives across Africa, but it has also affected the revenues of its largest telecommunication firms. Almost all of the companies in this list had their bottom lines affected by the global pandemic either positively or negatively, however, a key trend is clear – customer bases are growing across the board as Africa is steadily developing. These telecoms represent an important technology in the continent, the technology that enables and facilitates communication. A vital innovation for developing economies. The following list takes into account both total annual revenue and current user base/subscribers to rank the telecoms. Here are the top 10 largest Telecom companies in Africa ranked: 10. Globa...
Airtel Africa to Sell $200 Million Stake in Mobile Money Business
Sourced from Comms MEA Airtel Africa is set to sell a minority stake – worth $200 million – in Airtel Mobile Commerce BV (AMC BV) to global investment company, The Rise Fund. “The transaction is subject to customary closing conditions including necessary regulatory filings and approvals, as necessary, and the inclusion of specified mobile money business assets and contracts into AMC BV,” reveals the company. According to TechCrunch, this deal values the mobile money business at $2.65 billion with operations across 14 African countries, including Kenya, Uganda and Nigeria. “Our markets afford the substantial market potential for mobile money services to meet the needs of the tens of millions of customers in Africa who have little or no access to banking and financial services, and this dema...
Airtel Africa to Sell Stake in Airtel Money
Sourced from Comms MEA Airtel Africa has revealed its plans to raise cash by selling a minority stake in Airtel Money – its mobile financial platform. According to Business Daily, this move is part of the company’s strategy to sell some assets. “We are actively pursuing the sale of the remaining owned tower sites that sit across several of our operating countries and the group is in discussions with various potential investors in relation to possible minority investments into Airtel Money,” reads a trading update from the telco. “Discussions are ongoing between the parties and there can be no certainty that a transaction will be concluded or as to the final terms of any transaction.” Airtel did not disclose the amount it expects to raise. However, its revenues reached $291 million across i...
Airtel Africa Introduces ‘Amazing’ Data Bundles
Sourced from Comms MEA Airtel Africa has introduced a new range of data bundles that could see customers receive up to 15GB of free data. According to Gadgets Africa, new daily, weekly and monthly data promotion will allow customers to get 500MB free data every day – depending on their data plan. For a weekly plan, customers can get Free 3.5GB – 500MB is awarded on a daily basis for 7 days. For a monthly plan, customers can get Free 15GB – 500MB is awarded on a daily basis for 30 days. Here’s a closer look at the data bundles: /* custom css */ .tdi_3_2b2.td-a-rec-img{ text-align: left; }.tdi_3_2b2.td-a-rec-img img{ margin: 0 auto 0 0; } Airtel Nigeria Introduces New Unlimited Data Plans Airtel Nigeria has introduced a new range of unlimited data plans – known as ‘Unlimited Ultra Plans’. Th...
Airtel Africa and MoneyGram Enable Direct Mobile Wallet Transfers
Sourced from Comms MEA Airtel Africa has partnered with MoneyGram – an international money transfer company – to allow its 19 million customers to quickly and conveniently receive transfers directly into their mobile wallets. Once Airtel Money customers receive the funds, they can be accessed immediately and used to pay utility bills, goods and services, transferred to other individuals, or converted to cash at any of Airtel Africa’s branches, kiosks, and agents. “This partnership with Airtel will enable millions of consumers instant access to our global platform to receive money from over 200 countries & territories without having to even step outside,” says John Gely, Head of MoneyGram Africa. “We’re excited about how this customer-centric partnership with Airtel will expand our mobi...
Airtel Africa and Mukuru Partner to Facilitate Money Transfers within Africa
Airtel Africa and Mukuru have partnered to enable Mukuru customers to instantly send cross-border transfers directly to Airtel Money customer wallets in 12 African countries. This partnership will be particularly beneficial for customers making intra-Africa payments from Southern Africa where Mukuru has a leading presence. Customers also benefit from no longer having to physically go to an Agent to receive cross-border payments. Once Airtel Money customers receive the funds, they can be used to pay utility bills, goods and services, transferred to family or can be cashed out at any of Airtel Africa’s exclusive branches, kiosks and agents. “This partnership empowers those without a bank account to be included in the formal financial ecosystem and to move money conveniently, seamlessly and s...
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