We're connecting the unconnected, reaching the financially excluded and bridging the digital divide. Unlocking the extraordinary potential for people, businesses and economies to grow.
The fact that we have also been able to deliver a strong financial performance in this economic context is testament to the scale of the untapped demand in sub-Saharan Africa, and to the resilience of our business model.
Sunil Bharti Mittal
Chair
As we continue to grow, we also continue to increase the positive impact we can have – and fulfil our purpose of transforming lives.
Olusegun Ogunsanya
Chief executive officer
A strong performance in constant currency terms reflects the clear runway for growth in our markets, though devaluations and economic turbulence had an impact on our reported currency performance.
Our dynamic business model is underpinned by our sustainability strategy and delivers value to stakeholders while transforming lives through digitalisation and financial inclusion.
An efficient network and business structure in 14 markets across sub-Saharan Africa, which we continually improve through innovation
Delivering outstanding services and products, always aiming for best-in-class
Through a unique distribution network that is close to our customers
Offering simple, digitalised customer journeys and competitive pricing
To reach 152.7 million total customers
64.4 million data customers
38 million Airtel Money customers
Creating value for:
Our customers
Our economies
Our people
Our communities
Our shareholders
Our ‘Win with’ strategy aims to deliver long-term value for all our stakeholders. It is accelerated by our drive for digitalisation, and underpinned by the detailed framework of environmental, social and corporate governance (ESG) objectives in our sustainability strategy.
We report mobile services performance across all our markets and within our three operating regions. We also report mobile money performance as a separate segment.
A resilient business able to seize growth opportunities while managing foreign exchange and macroeconomic volatility.
Group revenue in constant currency grew by 20.9%, supporting a 21.3% growth in constant currency EBITDA, despite inflationary pressures. However, currency devaluations had a significant impact on our reported currency financial performance. Despite the headwinds, our resilient business model and balance sheet strength give us the flexibility to continue executing on the opportunities our markets offer, enabling us to deliver on our ambitions to bridge the digital divide and drive financial inclusion.
We continue to see sustained operating momentum with operating profit up 20.3% in constant currency despite macroeconomic headwinds. A sharp devaluation of the Nigerian naira during the period impacted our reported currency results.
Jaideep Paul
Chief financial officer
Our aim is to transform lives across Africa through increased digital and financial inclusion and access to essential educational resources. Our sustainability strategy sets out clear operational, social and environmental goals that help us deliver this vision.
Pillar 1
Our business
We are committed to providing sub-Saharan Africa with safe, reliable and resilient telecommunications to drive economic growth and development.
Pillar 2
Our people
Our people are at the heart of our sustainability journey. By fostering an environment of diversity, inclusion and continuous learning, we’re not just investing in our people – we’re nurturing future leaders and innovators who will drive our business forward.
Pillar 3
Our community
Our dedication to supporting communities is brought to life through bridging digital and financial divides, and enhancing access to education.Through strategic partnerships and programmes, we’re empowering individuals and communities to shape their own futures.
Pillar 4
Our environment
Recognising the important role we play in environmental protection, we are committed to minimising our impact. Through initiatives aimed at reducing our GHG emissions and promoting a circular economy, we’re working towards a greener, more sustainable future for all.
Identifying our key stakeholders and their interests, needs and level of influence is fundamental to successfully engaging with them. We recognise stakeholders who we have the most significant impact on and who have the most material influence on our activities. This year we added media and non-profit or non-governmental organisations (NGOs) as new stakeholder groups.
Our customers
As of 31 March 2024, 152.7 million customers across Africa use our data, voice and mobile money services to connect, live and work.
Our people
Continually ensuring Airtel Africa is a great place to work involves creating effective ways to listen to our 4,132 full-time colleagues across 18 countries.
Our communities
With operations in 14 African countries, we live and work closely with our communities, doing all we can to support their needs and create positive change.
Partners and suppliers
We work with more than 2,700 partners and suppliers across Africa, including mobile brands, IT companies and telecoms infrastructure providers – with the top 100 accounting for 87% of our procurement.
Governments and regulators
We engage with governments and regulators in all our markets, supporting their ambitions for digital and financial inclusion.
Shareholders
Through their investments, our shareholders enable us to deliver our strategy and create long-term value for all stakeholders.
Media
We appreciate the strong relationships we have with journalists and media organisations. We build and nurture these long-term mutually beneficial relationships in a range of ways.
NGOs
We work with NGO partners who are addressing issues including connectivity, education and financial inclusion.
Our robust governance mechanism has built resilience into our business and has uniquely shaped us to capitalise on market opportunities.
Our Board and executive leadership
We are committed to applying the highest standards of corporate governance, recognising that robust governance and culture underpin business success.
Our leadership
We have well-documented roles and responsibilities for directors, and a clear division of key responsibilities between our chair and CEO to help maintain a strong governance framework. You can read more about the responsibilities of our Board, chair, CEO, senior independent director and company secretary on our website.
Committee reports
We have five main governance committees: Audit and Risk, Remuneration, Nominations, Sustainability, and Market Disclosure. Each committee has written terms of reference which are available on our website.
Our compliance with the UK Corporate Governance Code
Airtel Africa plc ordinary shares have been trading on the main market of the London Stock Exchange since 3 July 2019, so we apply the principles and comply with the provisions of the 2018 UK Corporate Governance Code (the Code) and explain any noncompliance.
