• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Wednesday, August 27, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Currency Devaluation Cuts Airtel Africa’s Revenue To $2.37bn In H1 2024

by Royal Ibeh
10 months ago
in Business
airtel
Share on WhatsAppShare on FacebookShare on XTelegram

Airtel Africa’s revenue declined to $2.37 billion in the half-year ending September 30, 2024, due to the sharp depreciation of the Nigerian naira.

Advertisement

Despite a 19.9 per cent increase in revenue in constant currency, reported revenue fell by 9.7 per cent, as the weakened naira impacted the company’s earnings.

The Central Bank of Nigeria’s (CBN) decision to unify the foreign exchange rate in 2023 contributed to the naira’s significant drop from N471/$ to N1,601.20 by October 2024.

The company’s financial report for this period also highlighted how rising fuel prices across its operating regions, combined with a lower revenue contribution from Nigeria post-devaluation, drove a decline in EBITDA margins from 49.6 per cent in H1 2024 to 45.8 per cent.

Airtel Africa’s profit after tax of $79 million was affected by $151 million in derivative and foreign exchange losses (net of tax), primarily due to the naira’s further depreciation.

RELATED

Real Estate Firm Recommits To Building Communities, Value For Future

Real Estate Firm Recommits To Building Communities, Value For Future

3 hours ago
Zularich Properties Hands Over New Housing Estate To Buyers, Rewards Realtors

Zularich Properties Hands Over New Housing Estate To Buyers, Rewards Realtors

4 hours ago
ADVERTISEMENT

During this period, Airtel Africa’s customer base grew by 6.1 percent to 156.6 million, with data consumption per customer rising by 30.9 per cent to 6.6 GB. Smartphone penetration also increased by 5.3 per cent, reaching 42.9 per cent.

The chief executive officer of Airtel Africa, Sunil Taldar noted the potential for growth in Sub-Saharan Africa, emphasising, “A young and fast-growing population, combined with low SIM and banking penetration and a rising adoption of smartphones and digital payments, creates a unique opportunity to leverage our extensive infrastructure for sustainable growth.”


Join Our WhatsApp Channel

Nigerians can now earn US Dollars monthly by acquiring domains cheaply and reselling for profits up to $18,000 (nearly ₦30Million). Beneficiaries include professionals, entrepreneurs, civil servants and more. Click here to start.


Tags: Airtel NigeriaCentral Bank of Nigeria (CBN)
SendShare10177Tweet6361Share
ADVERTISEMENT
Previous Post

Lasaco Assurance Revenue Hits N18.3bn In 2023

Next Post

Stakeholders Seek Lasting Solution To Recurring National Grid Collapse

Royal Ibeh

Royal Ibeh

You May Like

Real Estate Firm Recommits To Building Communities, Value For Future
Business

Real Estate Firm Recommits To Building Communities, Value For Future

2025/08/27
Zularich Properties Hands Over New Housing Estate To Buyers, Rewards Realtors
Business

Zularich Properties Hands Over New Housing Estate To Buyers, Rewards Realtors

2025/08/27
Tinubu Hails NGX Growth, Backs More Capital Market Reforms
Business

Tinubu Hails NGX Growth, Backs More Capital Market Reforms

2025/08/27
The Evolution Of Betting In Nigeria: A Journey Of Growth
Business

How To Bet Smarter In 2025

2025/08/26
Malabu Oil: Abacha Family Wants Minister To Withdraw Claims On Court Cases
Business

Global Oil & Gas Contracts Up By $7bn In Q2

2025/08/26
Fadaella Foods To Capture Nigerian Market With New Products
Business

Fadaella Foods To Capture Nigerian Market With New Products

2025/08/26
Leadership Conference advertisement

LATEST

Amb. Ogwus To Receive Africa’s Fashion Entrepreneur Award Sept 20 In London

NUJ FCT Hails Stella Din Jacob’s Appointment As NTA’s First Female Executive Director Of News

2026 Hajj: Nigerian Pilgrims Without Visa Risk Imprisonment and N8.158m Fine

Kaduna PDP Demands Release Of Reps’ Candidate, Campaign Director

Youths Slam Soludo, Assembly Over Lawmaker’s Suspension

Ribadu Hands Over 128 Rescued Zamfara Residents To Families

Gunmen Kill Policeman Attached To LG Chairman In Delta

Nwabali Injured, Doubtful For Super Eagles’ World Cup Qualifying Matches

Poor Pay: 239 First-Class Lecturers Left UNILAG In 7 Years — Ex-VC Ogundipe

EFCC Denies Violating Atiku’s Son-in-Law’s Rights

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.