Airtel Africa names new board after $1.25 bn investment

Airtel Africa, a subsidiary of Bharti Airtel, announced its new Board of Directors – ahead of the initial public offering (IPO).
Airtel Africa revenue 2018Airtel Africa, the holding company of Airtel’s operations in 14 African nations, last week announced the decision to accept $1.25 billion equity funding from investors including Warburg Pincus, Temasek, Singtel, SoftBank Group International and others.

Sunil Bharti Mittal, Raghunath Mandava, Akhil Gupta, Vishal Mahadevia, Alok Sama, Arthur Lang, Shravin Bharti Mittal and Richard Gubbins are part of the new board. Shravin Bharti Mittal is one of the twin sons of Sunil Bharti Mittal, the founder of Airtel Group.

Airtel Africa achieved 10.8 percent growth in revenue for the second quarter ended 30 September 2018 — led by 53 percent growth in mobile data traffic and 31 percent increase in Airtel money transactions.

Airtel Africa’s mobile data traffic rose 53 percent to 89 billion MBs. Data customer base grew 32.1 percent to 27.1 million. Airtel Money customer base increased to 12.9 million. Airtel Money transaction surged 31 percent to $ 6.3 billion. EBITDA margin of Airtel Africa rose by 3.9 percent to 37.1 percent.

Airtel Africa ranks amongst the top two operators in most of the markets in which it operates.

Airtel Africa launched 4G services in ten countries.

Airtel Africa operates in 14 countries across Africa, namely: Nigeria, Chad, Congo B, Democratic Republic of Congo, Gabon, Madagascar, Niger, Kenya, Malawi, Seychelles, Tanzania, Uganda, Zambia and Rwanda.