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    Aloft it’s Feats in Africa, Airtel Africa Taped Remuneration Transition from Mobile Money and Data Liturgies

    Posted On 16 May 2020
    By : New Africa Business News, Staff Correspondent
    Comments: 8

    By Abdul Rahman Bangura–

    Photo Credit: IT News Africa

    NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone- Airtel Africa owing to its productive service delivery across Africa, has registered dividend  from migratory money and data services across its performances in Africa, though a one-off tax payment to Nigerian approvals blunted net profit in its first annual results since IPO.

    Airtel which regulates in fourteen regions, broadcasted a comprehensive continued improvement with Nigeria and East Africa placing a robust achievement, as Francophone Africa exhibited renewed modification; primarily in the fourth quarter.

    In its fiscal year that broke off in March, 2020 the corporation secured a year-on-year jump of 36% in data earnings to $930 million, and a 33% increase in takings from transferable money to $311 million. Through its company income boosted 11% to $3.4 billion.

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    Net profit fell by 4.4% to $408 million due to the give-and-take of a tax payment in Nigeria, which had been postponed from its earlier fiscal year. Raghunath Mandava – Chief Executive Officer of Airtel asserted, the company provided a strong set of outcomes in its monetary year and they entered a period of “increased volatility” as a result of Covid-19 in a strong economic perspective.

    “In Africa, the spread of the COVID-19 has weakened the rest of the world and therefore, it is tough to specifically predict what the impact of this will be on customers and business,” he noted.

    He furthered: However, our performance during the month of April has been resilient as the business continued to deliver constant-currency revenue growth, although at a lower rate.

    The company introduced a number of measures to offset the impact of virus-mitigation measures on users. These include cutting transaction fees on selected mobile money services, offering free text messages and increasing data allowances for some users.

    Mandava proceeds with optimistic of the medium term chances for the business, which encompass seizing advantage of the low data penetration rate in many of its markets and scaling its mobile money operation.

    Among its targets in mobile financial services is to increase its footprint across kiosks, mini shops and Airtel Money stores; add new services including loans and savings; and ink additional partner consensuses for global transfers.

    Airtel Africa covers fourteen markets including Nigeria, Kenya, Tanzania, Gabon and The Democratic Republic of Congo. It administered an IPO on the London Stock Exchange in July 2019.

     

     

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    For New Africa Business News (NABN) Abdul Rahman Bangura Reports,  Africa Correspondent

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    Coronaviruses (CoV) are a large family of viruses that cause illness ranging from the common cold to more severe diseases such as Middle East Respiratory Syndrome (MERS-CoV) and Severe Acute Respiratory Syndrome (SARS-CoV). A novel coronavirus (nCoV) is a new strain that has not been previously identified in humans.

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    Common signs of infection include respiratory symptoms, fever, cough, shortness of breath and breathing difficulties. In more severe cases, infection can cause pneumonia, severe acute respiratory syndrome, kidney failure and even death.

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    New Africa Business News Staff Correspondent
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    8 Comments

    1. Helen May 16, 2020 at 3:25 am Reply

      Airtel Africa is a great company. Love the company. Thank you New Africa Business News. Love you.

      • New Africa Business News, Staff Correspondent May 16, 2020 at 3:40 am Reply

        Thank you for reading Africa’s fastest growing global online newspaper.

    2. chamma May 16, 2020 at 3:29 am Reply

      Yes we have airtel for the our business. Good network. Thanks for reporting.

      • New Africa Business News, Staff Correspondent May 16, 2020 at 3:39 am Reply

        Thank you for reading Africa’s fastest growing global online newspaper.

    3. Pauline May 16, 2020 at 3:38 am Reply

      Rahman I enjoy reading your reports. Love NABN wonderful and the best online newspaper. Keep it going.

      • New Africa Business News, Staff Correspondent May 16, 2020 at 3:39 am Reply

        Thank you for reading Africa’s fastest growing global online newspaper.

    4. Robert May 16, 2020 at 3:47 am Reply

      Thank you for signing us with new Africa business news newsletter. We are your fans, greetings from Namibia.

      • New Africa Business News, Staff Correspondent May 16, 2020 at 3:51 am Reply

        Thank you. We love you. Please forward http://www.newafricabusinessnews.com to all friends.

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