Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. United Kingdom
  4. London Stock Exchange
  5. Airtel Africa plc
  6. News
  7. Summary
    AAF   GB00BKDRYJ47

AIRTEL AFRICA PLC

(AAF)
  Report
Delayed Quote. Delayed London Stock Exchange - 07/23 11:35:19 am
82.25 GBX   +0.12%
07/15Airtel Africa plc Approves Final Dividend
CI
07/15AIRTEL AFRICA PLC : Proxy Statments
CO
06/15HELIOS TOWERS : Targets $150 Million Capital Raise to Fund Tower Acquisitions
MT
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Airtel Africa to focus on current markets, will not bid for licenses in Ethiopia - CEO

01/29/2021 | 09:57am EDT
A general view shows customers and employees inside a mobile phone service centre operated by Kenyan telecom operator Airtel Kenya at the Sarit Centre within the Westlands district of Nairobi

NAIROBI, Jan 29 (Reuters) - Airtel Africa will focus on growing in the markets where it already operates on the continent and will not bid for licenses in Ethiopia, where the nation of 110 million people is opening up its telecoms sector, the company's CEO said on Friday.

Africa's second most populous nation, one of the last remaining closed telecoms markets on the continent, plans to sell a minority stake in state-owned Ethio Telecoms within nine months and is tendering for two new licenses, a process that was expected to start last month.

But Airtel Africa Plc Chief Executive Officer Raghunath Mandava told Reuters that the Africa-focused telecoms company sees more room to grow in the 14 countries it has already invested in, including in its biggest market in Nigeria, the continent's most populous nation.

"We have a lower market share in Nigeria, Congo, DRC, Tanzania and Kenya. And our entire current focus is on these countries in order to grow, we are not looking at bidding for Ethiopia at this stage," he said in an interview.

On Friday, the company, in which India's Bharti Airtel Ltd is a shareholder, said that its nine-month reported revenue increased by 13.8% to $2.87 billion, with third quarter revenue up by 19.5%.

The company reported a slight decline in profit before tax to $482 million in the period to Dec. 31, 2020 from $501 million in the period to Dec. 31, 2019. It attributed the drop to a combination of higher finance costs and benefits from non-operating exceptional items in the prior period.

Excluding the benefit of exceptional items and the one-off derivative gain in the prior period, profit before tax rose by 20.4%, it said.

The company said that its Nigerian subsidiary has collected national identity numbers from nearly half of its customers as part of a process to adhere to regulator demands to add valid National Identification Numbers to every SIM card registered in the country. It was working to verify the data, Mandava said.

"This could require a little bit more time and we will not be able to complete the full exercise, in which case, after all efforts if we don't manage by Feb. 9 then we will, I am sure discuss with the government and request for some extension," he told Reuters.

GOING SOLO

After Airtel Kenya's merger with Telkom fell through, the company has "invested solo" on expanding its rural network as a way to compete with market leader Safaricom.

"We are consistently gaining market share over the last few years, and we are growing quite handsomely in Kenya on our own," Mandava said.

"During the last couple of months and the whole of next year, our big focus will be Kenya and Tanzania where we are going to roll-out huge networks," he added.

The company still sees voice as crucial to growth in the future, as huge swathes of the continent are still under-using their phones, as costs still remain high.

"We all need to work towards reducing this interconnect costs in some countries," Mandava said.

"The need for telecommunication is far higher, it's a latent, inherent demand that exists, that we as operators are not fulfilling enough. And if you can do a good job of it, you can grow faster." (Reporting by Omar Mohammed, Editing by William Maclean)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AIRTEL AFRICA PLC 0.12% 82.25 Delayed Quote.8.80%
BHARTI AIRTEL LIMITED 0.38% 548.55 End-of-day quote.7.71%
DOW JONES AFRICA TITANS 50 INDEX -0.30% 516.7 Delayed Quote.-2.41%
S&P AFRICA 40 INDEX -0.77% 166.19 Delayed Quote.-3.94%
SAFARICOM PLC 0.00% 42.8 End-of-day quote.24.96%
TELKOM SA SOC LIMITED -2.55% 43.61 End-of-day quote.42.01%
All news about AIRTEL AFRICA PLC
07/15Airtel Africa plc Approves Final Dividend
CI
07/15AIRTEL AFRICA PLC : Proxy Statments
CO
06/15HELIOS TOWERS : Targets $150 Million Capital Raise to Fund Tower Acquisitions
MT
06/10AIRTEL AFRICA PLC : Dividends
CO
06/07AIRTEL AFRICA PLC : Institutional report
CO
06/07AIRTEL AFRICA PLC : Annual Report
CO
06/07AIRTEL AFRICA PLC : Financial report
CO
06/02Bharti Airtel's African Unit Divests Telecom Towers in Tanzania
MT
06/02Airtel Africa sells Tanzania towers to focus on subscription offerings
RE
06/02Airtel Africa Sells $175 Million Tower Portfolio In Tanzania
MT
More news
Financials (USD)
Sales 2022 4 152 M - -
Net income 2022 393 M - -
Net Debt 2022 3 286 M - -
P/E ratio 2022 10,8x
Yield 2022 4,54%
Capitalization 4 245 M 4 248 M -
EV / Sales 2022 1,81x
EV / Sales 2023 1,64x
Nbr of Employees 3 525
Free-Float 24,1%
Chart AIRTEL AFRICA PLC
Duration : Period :
Airtel Africa plc Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends AIRTEL AFRICA PLC
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 8
Last Close Price 1,13 $
Average target price 1,28 $
Spread / Average Target 13,6%
EPS Revisions
Managers and Directors
Raghunath Mandava Chief Executive Officer, MD & Director
Jaideep Paul Chief Financial Officer & Executive Director
Sunil Bharti Mittal Chairman
Razvan Ungureanu Chief Technology Officer
Neelesh Singh Chief Information Officer
Sector and Competitors