Airtel Africa, a leading provider of telecommunications and mobile money services, with a presence in 14 countries across Africa, today announces that its Zambia subsidiary, Airtel Networks Zambia plc (‘Airtel Zambia’), has purchased 60 MHz of additional spectrum spread across the 800 MHz and 2600 MHz bands from the Zambia Information and Communications Technology Authority (ZICTA), for a gross consideration of $29m, payable in local currency.
Raghunath Mandava, CEO of Airtel Africa
This additional spectrum will support our network expansion in the market for both mobile data and fixed wireless home broadband capability, including 5G rollout, providing significant capacity to accommodate our continued strong data growth in the country.
Zambia is one of our largest markets by revenue. This investment reflects our continued confidence in the opportunity inherent in the Zambian market, supporting the local communities and economies through furthering digital inclusion and connectivity.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
One of the leading telecoms firms in Africa, Middle East and India, Airtel says its African arm will stop investing in new tower infrastructure in Kenya, and other markets across the continent, as it prepares to sell most of its already-existing infrastructure assets.
This is in efforts to reduce ownership of infrastructure as Airtel Africa looks towards leasing instead, according to Business Daily Africa.
Raghunath Mandava, CEO of Airtel Africa
The International Finance Corporation (IFC), which is funding Airtel Africa, stated in an investment disclosure that Airtel is looking to focus on a cost-saving “asset-light business model” and has “divested most of its telecommunications tower portfolio” with the telecom operator now apparently in the final stages of divesting the majority of its remaining tower portfolio to other tower companies.
“Airtel Africa currently maintains a limited number of strategic tower sites (approximately 2,500) across its business, and presently has no foreseeable plans to materially expand its owned towers portfolio,” IFC said.
IFC also reports that Airtel Africa is currently in talks with independent telecom tower companies in order to secure the leasing of space on the existing infrastructure of these companies and for the construction of new towers specific to Airtel’s business requirements, which would make the telco an “anchor tenant.”
The news of Airtel Africa divesting in infrastructure comes after reports earlier in March that its Nigerian arm – Airtel Nigeria – had upgraded all of its 2G and 3G cell sites in the West African country to 4G technology.
At the time, Surendran Chemmenkotil, CEO and MD of Airtel Nigeria, said the operator was committed to delivering mobile broadband to the whole country, including even remote locations, as he says that connectivity has a direct correlation with “boosting the nation’s GDP.”
It is not yet known whether Airtel Nigeria will be included in the company’s market-wide divesting plan, or if the company will keep its existing Nigerian cell sites among its 2,500 sites.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
Airtel Africa has become the most valuable company on the Nigeria Exchange. This follows the recent listing on FTSE 100 Index which pushed up the market valuation of the company to surpass that of Dangote Cement as investors reacted to news of Airtel Africa’s inclusion in the FTSE 100 Index surging the shares of the telecoms company to more than the $3-per-share valuation on the local bourse.
At market close, Airtel Africa had a market cap of N4.7 trillion, while Dangote Cement stood at about N4.44 trillion.
Airtel Africa’s market capitalisation is said to have increased due to an increase in its share price after investors reacted to news that the London Stock Exchange (LSE) included Airtel Africa Plc in the FTSE 100 (Financial Times Stock Exchange) index. The index is used extensively as a basis for investment products, such as derivatives and exchange-traded funds.
Segun Ogunsanya, CEO of Airtel Africa
Speaking on the recent milestone achievement, Segun Ogunsanya, CEO of Airtel Africa, said the company has continued to invest in infrastructure and distribution networks across the countries where they operate, supporting their economies and communities.
“Sustainability is at the core of our strategy, driven by our guiding purpose of Transforming lives’ across Africa, with people, businesses and governments seeking access to more and better connectivity and improved financial inclusion,” he said.
Mittal, chairman of Bharti Airtel, stated that Airtel Africa’s inclusion in the FTSE Index, which tracks the performance of the most valuable companies on the bourse, is a significant milestone for the company.
“We are delighted that, after many years of hard work by the Airtel team, the Africa operations have had a stellar turnaround. A lot of credit goes to Raghu Mandava, an Airtel veteran who, along with his team, spent five years reshaping the strategy in Africa,” Mittal said.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
Airtel Africa names Segun Ogunsanya as company’s new MD & CEO.
NEW DELHI: Airtel Africa on Thursday named Olusegun (Segun) Ogunsanya, MD and CEO of Nigeria as the successor of Raghunath Mandava, as the new Managing Director and Chief Executive Officer for Africa business,, following Mandava’s announcement to retire. Segun Ogunsanya will join the Board of Airtel Africa with effect from October 1, 2021, the Sunil Mittal-driven telco in a statement said.
Segun Ogunsanya
Additionally, the telecom operator has appointed Chief Financial Officer Jaideep Paul as an Executive Director who would join the Board of Directors with effect from June 1, 2021.
Segun Ogunsanya joined Airtel Africa in 2012 as Managing Director and CEO Nigeria and has been responsible for the overall management of the telco’s largest market in Nigeria, its largest market in Africa. He comes with over 25 years of business management experience in banking, consumer goods, and telecoms.
“Raghu Mandava will be retiring as Managing Director and Chief Executive Officer, as a Director of Airtel Africa plc, and as a member of the Market Disclosure Committee on 30 September 2021. Arrangements have been made to ensure a smooth transition of responsibilities. Following his cessation of employment at Airtel Africa, Mr. Mandava will be available to advise the Chairman, the Airtel Africa Board and the Managing Director and Chief Executive Officer for a 9-month period,” the telco said in a statement.
Meanwhile, the telco said it will name Segun’s successor as Managing Director and CEO Nigeria soon.
“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,” Sunil Bharti Mittal, Chairman, said.
“On behalf of the Board, I would like to thank Raghu Mandava for being instrumental in successfully leading and transforming Airtel Africa into powerhouse telecommunications and mobile money company… As we look forward to Segun assuming his new role in October 2021, we do so from a position of great strength as a result of Raghu’s highly effective stewardship,” Mittal added.
“Having been at Bharti Airtel for 13 years and at Airtel Africa for 5 years as Chief Executive Officer, I feel now is the right time to take a sabbatical. The last five years have been an exhilarating journey where we have been able to do a turnaround and transform the business into strong high growth and profitable company,” said Raghu Mandava.
“Having been part of the Airtel Africa journey for the past nine years, I am looking forward to taking up the role of Chief Executive Officer… This is an exciting opportunity to position Airtel Africa for further success in a dynamic continent full of potential,” said Segun Ogunsanya.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
One of Africa’s leading telecoms conglomerates, Airtel Africa, has denied reports that it plans to halt operations in Kenya. The news was first reported in a tech news platform Techweez after Prasanta Das Sarmato, CEO of Airtel Kenya, assessed the viability of the company after The National ICT Policy 2019 was signed.
Prasanta Das Sarmato, CEO of Airtel Kenya
“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.”
Airtel 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 continue to significantly invest in the enhancement of its network and distribution across Kenya.
“We are now rolling out approx 600 new sites to expand our network using the ultra fast 4G technology across the country. In addition, across key cities, we have upgraded our network to be 5G ready. This significant expansion and upgrade will improve coverage as well as customer experience in both urban and rural areas.”
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 said 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 the 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 allegedly violating the quality of services across their networks.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
Indications emerged that Airtel Africa decided to divest from Airtel Money by selling a minority stake in its mobile financial platform to raise cash which it needed in its expansionary drive across the continent. Airtel Africa has since last year embarked in internally raising funds from existing assets through assets offloading. A source at the company said that the company is 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.
Raghunath Mandava, CEO of Airtel Africa
“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,” the source said. Airtel did not disclose the amount it expects to raise. However, its revenues reached $291 million across its markets in 2020.
“Our mobile money customer base reached 21.5 million, up 29 percent over the previous period, with Airtel Money customers now representing 18 percent of our total customers, an increase of 2.5 percentage points,” the multinational said.
“Mobile money average revenue per user (ARPU) was up 5.1 percent to $1.7 (Sh187), driven by the increase in transaction values and a higher contribution from merchant payments, cash out, person-to-person transfer and recharge of mobile services through Airtel Money.”
It could be recalled that Airtel Africa 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 valid until 30 November 2031.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
Airtel Africa will not participate in the long awaited bid for telecoms licensing in Ethiopia, focusing rather 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 Chief Executive Officer Raghunath Mandava has said.
Raghunath Mandava, CEO of Airtel Africa
Ethiopia, 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 licences, a process that was expected to start last month.
But Airtel Africa Plc CEO said 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.
India’s telecom sector, in the efforts of enabling policies including more quantum of the spectrum, is set to establish new benchmarks in the next-generation network deployments and service delivery.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
To renew its its 900 and 1800 MHZ spectrum licence for the next 10 years, Africa’s second biggest telecommunications company, Airtel Africa has paid N71.6 billion to the Nigerian Communications Commission (NCC).This was made known by the Chief Executive Officer of Airtel Africa, Raghunath Mandava who said that their current license was due to expire at the end of November 2021. The new license is expected to remain valid until 30 November 2031.
Chief Executive Officer of Airtel Africa, Raghunath Mandava
He noted 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.”
In a separate development, Nokia and Airtel Kenya have joined forces in a three-year deal to modernize Nairobi with high speed 4G and 5G-ready hardware. Deployment, which began in June, will cover hundreds of sites and include upgrading existing 2G, 3G and 4G radio access network (RAN) coverage in urban, semi-urban, highways, tourist spots and central business districts in Nairobi and the rest of Kenya.Nokia’s future-proofed network infrastructure will also offer Airtel Kenya the option to smoothly transition to 5G when necessary. The upgraded network will deliver enhanced connectivity to customers of Airtel Kenya and access to new, high-speed data services.
“We are in the midst of rolling out our network to enhance coverage along with modernization of our data network that will help us to deliver improved, high-speed data services to our customers. This will allow our customers seamless coverage enhancing their browsing experience further,” says P. D. Sarma, CEO of Airtel Kenya.
“We are excited to partner with Nokia on this project. Its technology portfolio improves our network quality considerably and also allows us to move to 5G services in the future.”
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
Airtel Africa which operates in Ghana under that joint venture – AirtelTigo – has announced that it will sell its assets and leave the West African country as certain government policies have been detrimental to its business model in that country.
Raghunath Mandava, CEO of Airtel Africa
“The parties are in advance stages of discussions for conclusion of the commercial agreement for the transfer of AirtelTigo on a going concern basis to the Government of Ghana,” Airtel said in a statement to the Bombay Stock Exchange. The proposed deal would result in the government of Ghana acquiring 100% shares of Airtel Ghana Ltd, also known as AirtelTigo, along with all its customers, assets and agreed liabilities.
AirtelTigo is a joint venture between ‘Airtel’ and ‘Millicom’ wherein Airtel holds a non-controlling 49.95% share in AirtelTigo. Airtel had merged its Ghana operations with Millicom in 2017, resulting in the second largest mobile carrier in the country. The merger was approved by the regulator subject to the condition that African country’s government will have the option to pick up a stake in the new entity in future.
But the joint venture has fallen behind MTN and Vodacom in the country. Airtel has previously said that it will look at consolidation opportunities, including exit, in markets where it is not among the top two players. According to the quarterly results ending September 30, Airtel said its Ghana operations had a customer base of 5.1 million. The company has successively been posting losses for the past four quarters and the Ebidta for the quarter fell to Rs 8.8 crore from Rs 9.9 crore in the previous quarter ending June 30. Total revenue remained stagnant at Rs 118 crore during the quarter and data customers as a percentage of the total customer base also saw a dip to 56.2% during the period from 59.4% in the June quarter.
Bharti Airtel’s Africa operations clocked in a net profit of $88 million for the second quarter this fiscal, down 8.3% on-year, hurt by higher net finance costs. But consolidated revenue stood at $965 million, increasing 14.3% from corresponding quarter last year.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
Global financial services giant, Standard Chartered Bank has entered into an agreement with Airtel Africa to co-create new, innovative products aimed at enhancing the accessibility of financial services. The strategic collaboration to drive financial inclusion across key markets in Africa by providing customers with increased access to mobile financial services. Through the collaboration, Standard Chartered and Airtel Africa will work together to co-create new, innovative products aimed at enhancing the accessibility of financial services and, ultimately, better serve people across Africa. In line with this, Airtel Money’s customers will be able to make real-time online deposits and withdrawals from Standard Chartered bank accounts, receive international money transfers directly to their wallets, and access savings products amongst other services.
Raghunath Mandava, CEO, Airtel Africa
Standard Chartered’s corporate clients will also be able to make rapid and secure bulk disbursements, such as payroll payments, directly into the Airtel Money customer’s wallet. This reduces the risks associated with travelling long distances for cash payments and instead customers can go to any Airtel Money agent, kiosk, or branch to cash-out their funds.
Commenting on the collaboration, Sunil Kaushal, Regional CEO, Africa and Middle East said: “By collaborating with innovative organisations like Airtel Africa, we are accelerating our mobile and digital-led strategy to provide best in class financial services to Africa. Over the past year, Standard Chartered has rapidly launched digital banks across 9 countries on the continent, allowing our customers to enjoy seamless services from the safety of their homes even during the peak of the pandemic. This partnership will further enhance the ability of our customers to manage and move money safely and securely and create market-leading financial solutions across countries.”
Sunil Kaushal, Regional CEO, Africa and Middle East at Standard Chartered Bank
The recent announcement is another step taken by Standard Chartered to further extend its reach and enhance its unique produce offering. By partnering with mobile wallet providers, the bank has expanded its network into markets where mobile wallets are prevalent, offer solutions that enable corporate and institutional clients to leverage the opportunities presented by mobile money, and enable efficient, scalable e-commerce and m-commerce solutions.
This partnership supports Airtel Africa’s efforts to expand the range and depth of its Airtel Money offerings across its 19 million customer base, with new products and services helping to promote the wider adoption of mobile money and increasing financial inclusion.
Raghunath Mandava, CEO, Airtel Africa, said: “Our relationship with Standard Chartered boosts financial inclusion across the continent, giving millions of people access to valuable banking services. We continue to invest heavily in cashing in and cashing out locations for our customers and increase our distribution. This means that our customers can now send or receive digital payments via Standard Chartered Bank directly to their mobile phones, as well as cash-out their funds at our exclusive kiosks and branches at their convenience. This highlights Airtel Africa’s commitment to providing affordable, innovative, best-in-class solutions to enhance the daily lives of our customers.” Mobile banking transfers between Airtel Money and Standard Chartered Bank now live in Kenya, Tanzania, Uganda and Zambia. Remaining products will be rolled out later this year subject to regulatory approvals.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
