Airtel Money reports 25% growth in first-half revenue in maiden results

LONDON: Airtel Money, the African mobile money service that listed in London this month, reported revenue of $830 million for the six months to end-September, up 25.1% from a year earlier in constant currency, in its maiden results on Monday.

Profit after tax rose to $228 million from $188 million, primarily reflecting the strong revenue growth over the first-half period.

Customers grew by 18.7% to 56.7 million, driving mobile money penetration of Airtel Africa’s telco customer base to 42.9%, up 3.2 percentage points.