(Ecofin Agency) - Airtel Nigeria weighted the most in the revenues of Airtel Africa over the financial year 2019 ending March 31, 2020. The Nigerian arm alone generated $1.4 billion, up 5% compared with the previous year and making 40% of the total Group’s revenues over the period.
The strong performance by Airtel Nigeria was spurred by a 67.8% increase in data revenues, which reached $435 million, from $259 million in 2018. The 5 branches in East Africa (Kenya, Malawi, Rwanda, Tanzania, and Uganda) generated the second-highest contribution to the telecom group's revenues. Along with the southern African branch in Zambia, they generated a total of $1.2 billion, up 9% from 2018. This makes 35% of the Group’s total revenues; a performance supported by the Mobile Money and data segments, which generated $213 million (+38.6%) and $307 million (+15.5%) respectively.
Francophone Africa, the minor contributor, generated $859 million (+3.2%) thus contributing 25% of Airtel Africa’s results. In this part of Africa, the Mobile Money and data segments are dynamic but not enough given the size of the market. Mobile money revenues were $93 million while data revenues were $189 million.
Over the period reviewed, Airtel Africa, the African subsidiary of Indian Bharti Airtel, generated a total of $3.4 billion.