Airtel Africa
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 Kenya Joins forces with MyDawa to Provide Fast Access To Medicine
Sourced from Comms MEA Airtel Kenya has partnered with ePharmacy platform, MyDawa, so that subscribers can have easy and fast access to their medication. According to Gadgets Africa, Airtel subscribers will be able to log on to the MyDawa app or website without incurring additional data charges. They will also be able to use Airtel Money to pay for medicine, health, wellness, personal care and other essential items. “This is a great partnership that will increase the access to healthcare products in Kenya. We are happy to partner with Airtel, one of the top telecommunications service providers in the country, to ensure that their subscribers are able to access quality medical products in a convenient and affordable way,” says Tony Wood, MD of MyDawa. “Free access to MyDawa’s services with ...
NGX records N419 billion growth in April
The market capitalisation of the Nigerian Stock (NGX) recorded a growth of N419 billion in April due to impressive first quarter results declared by some companies. Specifically, the market capitalisation which closed trading in March at N20.428tn rose by N419bn to close at N20.847tn in April. Similarly, the All-Share Index inched higher by 789.29 points to close at 39,834.42 in contrast with 39,045.13 recorded in March. Royal Exchange Assurance emerged the best performing stock for April in percentage terms, growing by 89.29 per cent to close at 58k per share against 28k recorded in March. Linkage trailed with 41.87 per cent to close at 85k in contrast with 60k posted in the comparative month. Speaking on the performance of the stock market, Mr Ambrose Omordion, the Chief Operating Office...
Airtel Africa Names New Group CEO
Image sourced from Khusoko – East African Markets Airtel Africa has appointed Segun Ogunsanya as the group’s new CEO – effective from 1 October 2021. He is taking over from Raghu Mandava who led the telco for the last five years. “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. It is this commitment, together with his industry experience, strategic vision, constant customer focus and proven record of delivery that will enable him to continue to deliver our strategic objectives and to lead the Group in the next stages of its development,” says Airtel Chairman, Sunil Bharti Mittal. He goes...
Airtel Africa Refutes Plans to Exit Kenyan Market
Sourced from Comms MEA 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 Kenyan ownership, either corporate or individual will be licensed to provide ICT services.” The telco, however, has said that it would not be leaving the Kenyan market – “we remain committed to delivering quality and value for money products and services to all our customers whilst ensuring effective, uninterrupted communication is achieved across the entire country.” Airtel goes on to say that it would cont...
Airtel Kenya Makes Network Upgrades to Avoid CA Fines
Sourced from Comms MEA Airtel Kenya has made a number of improvements to its network in order to meet the regulatory minimum threshold on quality of calls across the country. Airtel Managing Director, Prasanta Das Sarma told Business Daily that 270 sites were upgraded from 2G and 3G sites to 4G while more than 400 sites were added in upcountry towns and highways. “In total, the upgrade covered 20 counties. Some more sites will be added by end of April when the work will be done,” says Sarma. “We are vindicated when we see more customers using us. With this kind of expansion, we will be able to satisfy CA criteria (on voice quality).” Airtel Africa – and Telkom – came under fire earlier this year when the Communications Authority of Kenya (CA) placed the telco’s under scrutiny after alleged...
5G Rollout in Kenya Escalates as Airtel Upgrades 600 Sites
Sourced from Comms MEA Airtel Kenya has upgraded over 600 sites in Nairobi, Mombasa and Malindi to ensure that they are 5G ready – this comes shortly after rival telco, Safaricom, launched the first 5G commercial services in East Africa. “These 600 sites are now 5G-ready. We don’t have to make any further modifications to the network. We will just get the spectrum and decide when to switch on,” says Prasanta Das Sarma, MD of Airtel Kenya. According to Business Daily, the new 5G network will “give consumers Internet speeds of 700 megabits per second, more than three times faster than the current 4G network, allowing operators to offer an alternative service for homes and offices in areas which are not currently covered by its fibre network”. Sarma also revealed that subscribers can hope to ...
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 Renews Spectrum License in Nigeria
Sourced from Comms MEA Airtel Africa has paid N71.6 billion to the Nigerian Communications Commission (NCC) to renew its 900 and 1800 MHZ spectrum licence for the next 10 years. Chief Executive Officer of Airtel Africa, Raghunath Mandava says that their current license was due to expire at the end of November 2021. He goes on to say that the Nigerian market is the “largest market and we remain focused on bridging the digital divide and expanding our broadband capability in the country.” “On behalf of Airtel Nigeria and the Group, I would like to thank both the government of Nigeria and the NCC for their cooperation and support in this important process.” The new license is expected to remain vaild until 30 November 2031. Nokia and Airtel Partner to Lay 5G Foundations in Kenya Nokia and Air...
Stock market gains N138 billion despite profit taking
The stock market posted positive performance last week despite profit taking by some investors, as it sustained the growth recorded in the previous week. Precisely, the Nigerian Stock Exchange (NSE) All-Share Index (ASI) rose 0.7 per cent to close at 35,137.99, while market capitalisation gained N137.5 billion to print at N18.365 trillion. Apart from the NSE ASI index that appreciated, NSE Insurance, NSE ASeM and NSE Oil/Gas indices also went up by 2.61 per cent, 1.56 per cent, 0.19 per cent and 1.71 per cent respectively. Although the gains recorded in the market in November was expected to propel profit taking, some market analysts are still upbeat that the bulls would remain in control till the end of the year. “With the low yield environment in the fixed income space and investors’ cor...
