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Airtel Africa to Borrow Another $500 Million Loan

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Airtel Africa, one of the leading telecommunications companies in Africa, said it has signed a new $500 million loan facility with a group of banks to partially refinance the telecom’s €750m Euro-denominated bond (c.$880m) due 20 May 2021.

The financial institutions were Bank of America, BNP Paribas, Citibank, HSBC, J.P. Morgan, Standard Chartered Bank and two Indian relationship banks, Axis Bank and Kotak Mahindra Bank, the company said in a statement signed by Simoon O’Hara, Group Company Secretary.

It stated, “The new committed facility consists of a combination of a revolving credit facility and term loans with tenor of up to 4 years. The facility will be used to partially refinance the Group’s €750m Euro-denominated bond (c.$880m) due 20 May 2021.

“The balance of the Euro-denominated bond will be repaid with existing Group cash to reduce gross debt and associated interest costs. The new loan facility further strengthens the core liquidity of the Group.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

Telecommunications

Glo Enriches Customers’ Experience With Glo Café

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In line with its commitment to delivering value, National Telecommunications Company, Globacom has unveiled Glo café, a self-care application that offers customers a convenient self-service channel to manage their accounts.

Globacom, in a statement in Lagos, said that the newly repackaged app was designed to unify Glo services under one platform, thus empowering Glo subscribers to manage their mobile accounts hassle-free.

“It is a one-stop entertainment shop with unfettered access to a plethora of content covering video, music, sports, comedy, celebrity news and gist. The Glo Café is available for FREE on Web, Google Play Store and Apple App Store”. Glo said.

The company explained that its extensive research into the needs of customers, their understanding and requirements for a simple and time-efficient platform offering customer support underscored the need for the development of the app.

It added that “The launch of Glo Café is part of our efforts to deliver the best customer experience in the digital space and empower customers with a convenient, non-intrusive and 24/7 available channel of support. The self-care app is a simple, secure and convenient way for Glo mobile customers to access a whole host of functionalities- buying, sharing and gifting of data, borrowing credit and data, recharging any Glo account and paying postpaid bills, accessing Value Added Services (VAS), among other things”.

Glo customers will also have access to a world-class gaming portfolio, and easy access to customer support – including direct contact to call center executives, raising service-related requests, chatting with agents, etc, in addition to entertainment content including top-rated music, videos, comedy and sports.

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Telecommunications

Airtel Africa Grows Revenue by 14.2 Percent to $3,908m in Q1 2021

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Airtel Financial Results - Investors King

Airtel Africa Plc, a leading telecommunications company in Africa, grew its revenue by 14.2 percent to $3,908 million in the first quarter (Q1) of 2021, the company stated in its just-released financial statements.

The company reported growth across all its regions with East Africa leading with 23.5 percent growth. Nigeria followed with 21.9 percent growth while Francophone Africa accounted for 10 percent growth. See Airtel Africal financial highlights below.

Airtel Africa Financial Highlights

 Reported revenue grew by 14.2% to $3,908m, with Q4’21 reported revenue growth of 15.4%.
 Constant currency underlying revenue growth was 19.4%, with Q4’21 growth of 21.7%. Growth was recorded across all regions: Nigeria up 21.9%, East Africa up 23.5% and Francophone Africa up 10%; and across key services, with revenues for voice up 11.0%, data up 31.2% and mobile money up 35.5%.
 Underlying EBITDA was $1,792m, up 18.3% in reported currency, and growing 25.2% in constant currency.
 Underlying EBITDA margin was 46.1%, adding 181 basis points(210 basis points higher in constant currency). Underlying EBITDA margin for Q4’21 was 47.7%, an increase of 389 basis points in constant currency.
 Operating profit increased 24.2% to $1,119m in reported currency, and by 32.8% in constant currency.
 Free cash flow was $647m, up 42.8% on the prior year.
 Basic EPS was 9.0 cents, down 12.6%, largely due to prior year exceptional items and a one-off derivative gain. Excluding these, basic restated EPS rose 44.5%. EPS before exceptional items was 8.2 cents.
 Our customer base grew by 6.9% to 118.2 million, with increased penetration across mobile data (customer base up 14.5%) and mobile money services (customer base up 18.5%). The recent slowdown in customer base growth has been due to new SIM registration regulationsin Nigeria.
 The Board has recommended a final dividend of 2.5 cents per share, making the total dividend for FY21 4.0 cents per share.

Commenting on the company’s performance, Raghunath Mandava, chief executive officer, said “In these challenging timesI want to say a huge thank you to all our employees, our business partners, and governments and regulators who have supported us, and in turn facilitated our continued support to the economies and communities we serve.

“Our performance has been strong, with reported growth of 13.6% in underlying revenue and 18.3% in underlying EBITDA, and constant currency growth of 19.4% and 25.2% respectively. Contributions to this growth came across all regions, with particular improvement in Francophone Africa, and across all our major services, with mobile money, data and voice each posting double-digit revenue growth.

“Our customer base also grew strongly for most of the year with new customer registration requirements in Nigeria stemming our onboarding of new customers in the final quarter, and these restrictions were lifted in second half of April.

“In line with our strategy of unlocking value in our mobile money business, we will soon welcome two new minority investors (The Rise Fund and Mastercard) in agreed transactions which value this part of our business at $2.65bn, as well as bringing $300m into the Group. We have also agreed to sell more of our tower portfolio, yielding yet more cash for the business.

“The Covid pandemic had eased during the course of the year, however, more recently we have seen a surge in cases. So far this has had no adverse impact on the business, though we will continue to monitor the situation closely.

“In these times, our purpose of transforming lives has never been more critical. It has always meant more than simply providing mobile and financial services; it is about our drive to create a sustainable future. To that end, this year the leadership team has worked to create our sustainability framework, outlining the role we can play and the focus areas where we can make the biggest difference for each of our business, our people, our community, and our environment.

“We will report back with our goals later this year and deliver our first sustainability report in 2022. The combination of bringing connectivity to underpenetrated mobile markets and improving financial inclusion through banking the unbanked, across our territories of operation, together provide us with a sizeable runway of sustainable profitable growth potential, and one we remain very confident of delivering.”

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Telecommunications

MTN Nigeria Resumes SIM Card Sales, Activation

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sim card - Investors King

MTN Nigeria has resumed the sales of SIM cards across the nation, according to the latest report from the leading telecommunications company.

In a statement released on Monday, MTN Nigeria said customers can walk into any of the stores listed below to buy and activate their SIM cards.

Customers are therefore advised to visit with their National Identity Number (NIN) and any of their voter’s card, driver’s license and international passport.

The statement reads “We are delighted to inform you that SIM card sales have commenced in some select MTN stores.

“Simply walk into any of the stores listed below to buy and activate your SIM.

“Thank you for choosing MTN

“To make your experience at our store seamless and make the process faster, please be kind to come with the following:

1. Your National Identity Number (NIN) is mandatory by law for registering and activating your new SIM.

2. In addition, please come along with any one of these valid, government issued IDs:
i. Your NIN slip
ii. Your Voter’s Card
iii. Your Driver’s License
iv. Your international passport.

SIM registration cannot be done by proxy.

If you do not yet have a NIN, please click on this link Enrolment Centres – CUSTOMER NIN CAPTURE (mtnonline.com) to find the nearest enrollment center

“We look forward to seeing you, and welcoming you to the Yello Family soon!”

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