Airtel Africa move $2bn in mobile money transactions in Q1

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Bharti Airtel used Q1 numbers to highlight how its African subscribers have taken to mobile money with enthusiasm.

“Telecoms are back to growth in Africa, this time spearheaded by internet and mobile money. Airtel has grown by 12.1% in constant currency terms, with exceptional performance in Mobile Data (+85.5%). Airtel Money transaction values have increased by 4.9 times to $2.2 billion in this quarter,” said Christian de Faria, MD and CEO, Africa.

The operator has talked up its mobile financial services in past quarterly announcements. The current quarter again showed their popularity, albeit such services are growing from a low base having been launched relatively recently.

The total number of Airtel money subscribers in Africa increased more than threefold to 4.3 million, compared to 1.3 million in the same quarter last year.

The number of transactions in Q1 were 97.7 million, which is 3.8 times higher than the 26 million reported last year.

Overall, the operator group reported solid figures for the quarter, although strength in its home market of India contrasted with a poorer performance for its African operations.

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