Airtel plans mobile money business roll-out in Nigeria

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Airtel Africa has said it will soon roll out its mobile money business in Nigeria.

Its Chief Executive Officer, Mr Raghunath Mandava, said this as highlights of its operations show growth across the company’s business products.

The telecommunications and mobile money service provider, with presence in 14 countries across East, Central and West Africa, said it also plans to list its shares on the London Stock Exchange.

At the moment, Mandava said the company is working towards securing approval of a brand name and obtaining a license for the mobile payment service.

He said the company’s performance in the latest report showed revenue grew by about 6.9 percent, from $744.5million to $795.9million. Also, the company’s customer base rose by 9.3 percent to about 99.7million.

The growth in revenue was attributed to the double-digits growth across business products in Nigeria and East Africa.

Details showed a constant increase in Voice revenue by 3.2 percent, data revenue 35.9 percent, and Mobile Money revenue 41.8 percent.

He said the company continued the aggressive investment in its 4G network infrastructure, with nearly 1,500 additional sites across its operational locations.

On plans to officially list Airtel’s ordinary shares on the London Stock Exchange, Mr Mandava said arrangements had reached an advanced stage.