Airtel Africa PLC is looking to sell a minority stake in its mobile money division and its tower site across different countries in its latest strategic asset monetisation bid. The carrier announced the plans in the results for the nine months ending 31 December 2020.
“We are continuing to look at strategic asset monetisation and investment opportunities for the Group. We are actively pursuing the sale of the remaining owned tower sites that sit across several of our operating countries and the Group is in discussions with various potential investors in relation to possible minority investments into Airtel Money,” reads an Airtel Africa trading update.
However, the company indicated that the sell discussions are underway and “there can be no certainty that a transaction will be concluded or as to the final terms of any transaction.”
Airtel Africa’s mobile money revenue grew by 34% year on year to 110 million.
Airtel Africa Q3 Results
The company reported a 13.1% year-on-year increase in net profit to $116 million in the quarter ended December 2020.
YoY underlying revenue grew by 17.2% to $1,034 million driven by growth in mobile money, voice, and data growth in Nigeria, East Africa and Francophone Africa.
“Regionally, the continued strong revenue growth in Nigeria and East Africa, growing 21.6% and 23.4% in constant currency, is increasingly being matched by improvements across Francophone Africa, posting 8% growth for April-December and 15% in Q3,” said CEO Raghunath Mandava.
Mobile money recorded the highest growth, growing 34% to $110 million. However, voice still led the company’s revenues at $565 million, up from $505 million in December 2019.
The company’s total customer base grew by 11% to 118.9 million, while ARPU grew by 4.2% to $2.9.