The guys who handle Airtel’s operation in Africa are probably feeling this way:
Majorly because the Telco turned profitable in Africa for the first time ever! Airtel in the last earnings report disclosed a $6 million profit from Nigeria and other African countries (Chad, Congo B, Democratic Republic of Congo, Gabon, Madagascar, Niger, Ghana, Kenya, Malawi, Seychelles, Tanzania, Uganda, Zambia, and Rwanda) where it operates. This is largely due to the increase in the data customer base and consumption.
Meanwhile, they recorded a significant loss —a 72% drop in quarterly profit — in the home market due to intense competition.
According to Raghunath Mandava, chief operating officer of Airtel Africa:
“Our efforts to deliver a profitable business model for Africa have resulted in EBITDA growth of 36.0% with margin expanding by +500 basis points on an underlying basis in FY 16-17. For the first time ever, African operation has delivered positive PBT (profit before tax) in the financial year (constant currency).”
At the moment, they control 22.8% market share in Nigeria with 34,656,605 million subscribers. They are also the ONLY Telco in Nigeria that recorded an increase in its subscriber base.