Telecom
Airtel Africa Records 7.9% Subscriber Growth, $3.6B Revenue in Nine-month Results

Airtel Africa reports strong revenue and customer growth, bolstered by data, mobile money, and network investments despite currency fluctuations. Airtel Africa plc has announced its results for the nine-month period ended 31 December 2024 on Thursday.

Operating Highlights
The total customer base grew by 7.9% to 163.1 million. Data customer penetration continues to rise, with a 13.8% increase in data customers to 71.4 million. Data usage per customer increased by 32.3% to 6.9 GBs, with smartphone penetration increasing by 5.2% to reach 44.2%.
The continued investment to increase financial inclusion across our markets contributed to an 18.3% increase in mobile money subscribers to 44.3 million. Transaction value in Q3’25 increased by 33.3% in constant currency1 with annualised transaction value of $146bn.
Data ARPU growth of 15.0% and mobile money ARPU growth of 11.8% in constant currency continued to support overall ARPUs which rose 12.0% YoY in constant currency.
Customer experience remains core to our strategy with sustained network investment during the period. In line with our strategic priorities, data capacity across our network has increased by 20.8% with the rollout of 2,850 sites and approximately 2,600 kms of fibre.
Financial performance
Revenues of $3,638m grew by 20.4% in constant currency but declined by 5.8% in reported currency as currency devaluation continued to impact reported revenue trends. Strong execution supported a further quarter of accelerating growth with Q3’25 revenue growth of 21.3% in constant currency and reported currency revenue growth of 2.5%.
Across the Group, mobile services revenue grew by 18.8% in constant currency, driven by voice revenue growth of 9.8% and data revenue growth of 29.5%. Mobile money revenue grew by 29.6% in constant currency.
EBITDA for the nine-month period declined by 11.9% in reported currency to $1,681m with EBITDA margins of 46.2% impacted by increased fuel prices and the lower contribution of Nigeria to the Group. However, following initial successes of our cost efficiency programme, EBITDA margins have expanded from 45.3% in Q1’25 to 46.9% in Q3’25.
In Q3’25, profit after tax benefitted from an exceptional gain of $94m (net of tax) following the naira and Tanzanian shilling appreciation. However, over the nine-month period ending 31 December 2024, profit after tax of $248m was impacted by $57m of exceptional derivative and foreign exchange losses (net of tax).
EPS before exceptional items declined from 7.1 cents in the prior period to 6.2 cents, primarily impacted by increased costs associated with the ATC contract renewal, which had no impact on cashflows. Basic EPS of 4.4 cents compares to negative (1.6 cents) in the prior period, predominantly reflecting lower derivative and foreign exchange losses in the current period.
Sunil Taldar, Chief Executive Officer, Airtel Africa plc, said: “We have delivered an improvement in both the operating and financial performance in the last quarter driven by our refined strategy which is focussed on delivering great customer experience across all touch points.
“An increasingly important component of this is to provide a best-in-class network, digitise and simplify the customer journey. Our focus on speed and quality execution is enabling us to unlock the substantial opportunities for growth across our markets and business segments, where demand remains significant, resulting in a further acceleration of constant currency revenue growth to 21.3% in the most recent quarter.
“We remain committed to investing for the future by expanding our distribution and network to ensure that we capture this significant growth opportunity on offer. Despite the challenging environment for many of our customers, we continue to see strong demand for our services as we enable connectivity and facilitate access to the digital economy.
“The scale of data traffic growth across our markets – an increase of 49% over the last year – is testament to the investments we have made and the relentless focus on our strategy to create value for all our stakeholders.
“As we have communicated previously, our cost efficiency programme continues to deliver EBITDA margin improvements, with a further expansion of margins in Q3’25. We continue to focus on further margin improvement.
“Furthermore, our capital structure remains robust with just 8% of OpCo debt in foreign currency – a substantial improvement over the last year. This, together with continued confidence in the outlook for the business, has enabled the Board to announce a second share buyback programme, which will return up to $100m to shareholders.
“The recent signs of currency stabilization in some markets and the recent decision from the Nigerian Communications Commission (NCC) regarding tariff adjustments in Nigeria are encouraging and signal a more stable and supportive operating environment. While challenges remain, these developments provide a firm foundation for growth and improved market conditions”.
Telecom
X Suspends Twitter Account for Rules Violation

X, the social media platform formerly known as Twitter, has suspended the @Twitter account, replacing its profile with a standard notice citing violation of platform rules.

Musk
The action, which occurred on Sunday, January 11, left users encountering the handle greeted by a bold “Account Suspended” message on a black screen, with no details provided on the specific rules broken or the duration of the suspension.
The development has sparked widespread confusion and nostalgia among users, given that Elon Musk rebranded Twitter to X in July 2023, approximately six months after acquiring the platform for $44 billion in late 2022.
The @Twitter handle had remained dormant since before Musk’s takeover, serving as a legacy remnant of the platform’s original branding, and its suspension appears to mark the final erasure of the Twitter name amid X’s ongoing efforts to combat spam, impersonation, and rule violations.
X’s official statement on the suspended page simply reads: “X suspends accounts that violate our rules,” without offering an appeal process or further explanation, unlike standard user suspensions.
Public reactions on social media ranged from humorous laments of “RIP Twitter” to speculation that the move resulted from automated moderation or a deliberate cleanup of legacy trademarks.
xAI’s Grok AI described it as a purposeful retirement of outdated elements rather than a genuine infraction, while neither Elon Musk nor X spokespeople issued any comment as of Monday morning.
This incident underscores the evolving identity of the platform under Musk’s ownership, which also saw a domain shift to x.com in 2024, further distancing it from its Twitter roots.
Industry observers note that while the suspension aligns with X’s stricter enforcement policies, the lack of transparency has fueled debates on consistency in applying rules to high-profile legacy accounts.
Telecom
FG Plans to Invest $460m World Bank Loan in Fibre Infrastructure

Federal Government plans to channel $460m World bank loan, representing about 92 per cent of a $500m, into the proposed fibre infrastructure company set up to deploy 90,000 kilometres of climate-resilient broadband fibre across the country.

This is contained in the Financing Agreement for the Building Resilient Digital Infrastructure for Growth project between the Federal Government and the International Development Association, the concessional lending arm of the World Bank.
Under the agreement, the World Bank approved a $500m concessional credit to support Nigeria’s drive to expand access to high-quality and climate-resilient broadband internet in unserved and underserved areas.
Of this amount, $460m is earmarked specifically for equity financing and capitalisation of a new Project Company that will drive the fibre rollout. The remaining $40m will cover goods, works, consulting and non-consulting services, training, operating costs, and the refund of a preparation advance used to develop the project framework.
According to the document, the proposed Project Company will be established “as an independent, majority privately-owned and managed special purpose vehicle-joint venture with the objective of the deployment of 90,000 kilometres of climate-resilient fibre infrastructure following a phased approach, limited to provision of wholesale, open access services to licensed telecommunications operators, and management of associated investments, including the carrying out of preparatory activities and provision of transaction advisory services, and provision of equity financing in and capitalization of the Project Company.”
The Federal Government will participate in the company as a shareholder through the Ministry of Finance Incorporated, which manages the government’s investment interests. However, the agreement explicitly caps the government’s shareholding at a maximum of 49 per cent, ensuring that the company remains majority privately owned.
The $460m equity injection is broken into four tranches, tied to strict performance and operational milestones. The first tranche of $150m will be released once the Project Company is incorporated as a joint venture with private partners selected through a process acceptable to the World Bank, and after its memorandum, articles of association, and shareholding agreement are approved.
A second tranche of $100m will only be disbursed after the company adopts fiduciary and administrative procedures approved by the lender and completes at least 5,000 kilometres of fibre deployment. The third tranche of $100m is linked to the completion of an additional 20,000 kilometres of network construction.
The final tranche of $110m will be released after the company launches wholesale open-access services through a published reference offer and completes a further 40,000 kilometres of fibre deployment, bringing the total rollout to at least 65,000 kilometres before the final equity drawdown.
Once each tranche is withdrawn, the agreement requires that the funds be transferred to the Project Company’s dedicated account within five working days, showing the equity nature of the financing rather than traditional budgetary spending.
The project will be implemented under the oversight of the Federal Ministry of Communications, Innovation and Digital Economy, and the Federal Ministry of Finance will receive semi-annual progress updates.
A dedicated Project Implementation Unit will manage day-to-day execution, with overall financial management handled by the Federal Project Financial Management Department in the Office of the Accountant General of the Federation.
Beyond the fibre rollout, the project also includes technical assistance to federal government agencies to support the use of high-quality broadband in targeted areas, as well as funding for project management, monitoring and evaluation, environmental and social safeguards, grievance redress mechanisms and independent audits.
The agreement places strong emphasis on environmental and social standards, requiring compliance with an Environmental and Social Commitment Plan. It also mandates the establishment of an accessible grievance mechanism for affected communities and strict reporting obligations to the World Bank.
Telecom
Court Dismisses N1Bn Suit against MTN, Awards N3m Costs

A Federal High Court in Lagos has dismissed a N1 billion lawsuit filed against MTN Nigeria Communications Plc by Walls and Gates Ltd and Okechukwu Udeichi, its managing director, over alleged copyright infringement, breach of confidentiality, and trademark violations arising from MTN’s 20th anniversary promotional campaign.

Delivering judgement on Tuesday, Justice Ayokunle Faji held that the plaintiffs failed to establish any legally protectable right in their proposal titled “20 for 20”, describing the action as frivolous, speculative, and vexatious.
The court dismissed the suit in its entirety and awarded N3m in costs against the plaintiffs.
The plaintiffs instituted the action under Suit No. FHC/L/CS/1935/2021, alleging that MTN unlawfully used their “20 for 20” proposal, which they claimed to have submitted to the telecoms company on 17 September 2019, ahead of MTN’s 20th anniversary celebration in 2021.
They argued that MTN’s anniversary promotion, in which 20 sport utility vehicles were given out to subscribers, emanated from their proposal and amounted to infringement of their copyright, confidential information, and trademark.
Based on those claims, the plaintiffs sought N1bn in damages or, alternatively, an order directing MTN to render an account of revenue generated from the promotion and remit 50 per cent of it to them.
MTN denied the allegations, contending that the proposal was an unsolicited business idea that imposed no contractual or confidential obligation on the company.
The telecoms firm maintained that its 20th anniversary programme was independently developed and that the plaintiffs’ document was merely a general business concept not protected under Nigerian copyright law.
MTN further argued that the plaintiffs lacked a valid registered trademark and failed to demonstrate access to or copying of any protected expression.
In resolving the dispute, Justice Faji noted that the plaintiffs conceded during oral submissions that they failed to prove their claim of trademark infringement, leaving only the issues of alleged breach of confidentiality and copyright infringement for determination.
On confidentiality, the court held that no confidential relationship existed between the parties.
Justice Faji observed that before sending the proposal to MTN, the plaintiffs had already submitted it to the Nigerian Copyright Commission and relied on it for a trademark application, thereby placing the document in the public domain.
The judge further noted that after transmitting the proposal to MTN, the plaintiffs admitted circulating it to other organisations, which extinguished any claim to confidentiality.
According to the court, MTN had no obligation to respond to an unsolicited proposal in the absence of a contractual, fiduciary, or business relationship, or a non-disclosure agreement.
On the allegation of copyright infringement, the court held that registration with the Nigerian Copyright Commission does not confer copyright, stressing that Nigerian law protects expressions, not ideas or business concepts.
Justice Faji ruled that the plaintiffs’ “20 for 20 Millennium Promotion” amounted to no more than an idea of rewarding customers during an anniversary celebration and lacked the originality and intellectual effort required for copyright protection.
He described the proposal as a bare business concept devoid of original qualities capable of attracting copyright. The judge also held that MTN’s use of the phrase “MTN 20th Anniversary” was a natural description of an anniversary event and did not originate from any protectable work of the plaintiffs.
He further relied on evidence showing that MTN affiliates in other jurisdictions had implemented similar anniversary reward ideas before the plaintiffs’ proposal.
Justice Faji characterised the suit as a “gold-digging exercise” aimed at forcing a commercial relationship on MTN. He criticised the plaintiffs for using MTN’s trademark in their proposal without authorisation and then seeking to ground a billion-naira claim on the same document, adding that the case wasted valuable judicial time.
While affirming that citizens should have access to the courts, the judge stressed that such access must be limited to suits with prima facie merit.
He therefore awarded N3m in costs in favour of MTN, holding that costs must follow the event.
The court accordingly dismissed the suit in its entirety and ordered the plaintiffs to pay the awarded costs to the defendant.
Credit: Punch
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