Airtel Africa reconstitutes board after $1.25 billion new investment

Airtel Africa, a UK incorporated company and a wholly owned subsidiary of Bharti Airtel, a global telecoms company with operations in 16 countries across Asia and Africa, has announced the appointment of its Board of Directors. Airtel Africa is the holding company of Airtel’s operations in 14 countries in the continent. The constitution of the company Board follows recent successful primary equity issuance of  US $1.25 billion to six global investors comprising of Warburg Pincus, Temasek, Singtel, SoftBank Group International and others.

The Board of Directors includes representatives from Airtel and the investors and comprises of: Sunil Bharti Mittal, Raghunath Mandava, Akhil Gupta, Vishal Mahadevia, Alok Sama, Arthur Lang, Shravin Bharti Mittal and Richard Gubbins.

(TOP: Raghunath Mandava, the CEO of Airtel Africa and part of the 8-member board. Photo: The eXchange). 

The newly constituted Board together brings extensive experience across industry verticals including – Telecom & ICT, financial markets as well as in technology, software development and consultancy. Additionally, the combined strength of the Board of Directors also brings wealth of industry and governance experience to further drive Airtel Africa business.

Airtel Africa is experiencing healthy revenue growth in voice and data services and also strong performance in its Airtel Money business. Its financial performance continues to improve, having turned positive in terms of net profit and operating free cash flow.

During the second quarter ending 30 September 2018, the firm’s revenues grew by 10.8% Y-o-Y led by strong growth in data and Airtel money transactions. Mobile data traffic expanded by 53% to 89 billion MBs Y-o-Y. While data customer base increased by 32.1% to 27.1 million, Airtel Money customer base increased to 12.9 million, boosting the total transaction value on Airtel Money platform by 31% to $ 6.3 billion. The telco also witnessed an improvement of EBITDA margin by 3.9% Y-o-Y to 37.1%.

In most of the markets in which it operates, Airtel Africa ranks amongst the top two operators. With 4G services live in ten countries and in process of rollouts in most others, Airtel Africa is well placed to capture a significant market share of the rapidly growing data demand across countries.

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


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