Airtel Money, the African mobile money business that listed in London this month, has reported a 25.1% increase in first-half revenue in constant currency, highlighting continued growth in digital financial services across its markets.
The company recorded revenue of $830 million for the six months ended September, in its maiden financial results released on Monday.
Profit after tax rose to $228 million from $188 million in the corresponding period a year earlier, supported primarily by strong revenue growth.
Customer numbers increased by 18.7% to 56.7 million, pushing mobile money penetration among Airtel Africa’s telecommunications customer base to 42.9%, an increase of 3.2 percentage points.
Average revenue per user grew by 5.1% in constant currency. The average monthly transaction value per customer also increased by 14.9% to $397, reflecting stronger transaction activity across the business.
Airtel Money announced an interim dividend of 6.4 cents per share and reiterated its full-year guidance.
Chief Executive Ian Basil Ferrao described the company's oversubscribed London listing as a landmark achievement and a vote of confidence in its business model and strategy.
However, the company's shares closed at 179 pence on Friday, below their offer price of 196 pence when trading began on October 9.
The results offer an early indication of Airtel Money's financial performance as it enters the public markets, with customer expansion and rising transaction activity supporting revenue growth.
As mobile money services continue to play a growing role in Africa's financial ecosystem, Airtel Money's performance will be closely watched by investors assessing the sector's growth potential and its ability to deepen financial inclusion.
Source: Reuters
Reporting: Paul Sandle
Editing: Susan Fenton
