Data revenue, subscription growth helps ease unsettled Airtel Malawi
Buoyed by the expansion of its fibre infrastructure, which helped win over new data subscribers, Airtel Malawi has recorded almost 50% growth in revenue from mobile broadband services. This has helped to steady the company as shareholders demand it delist from the Malawi Stock Exchange and media reports in early April detailed the threat of strike action by employees.
Shareholders have accused the company of failing to fully inform them of a court case related to its pursuit of listing in 2019.
Moreover, employees at Airtel shops and back offices have also made headlines after alleging the company has failed to make available a medical aid and refused a salary increment.
Despite these issues, revenue for the year to end December 2020 strengthened by 18.8% compared to the previous year, Airtel Malawi said on Sunday.
There was a significant increase in data revenue which quickened by up to 46.4%, helping to offset 2.5% marginal growth in voice revenue.
“Revenue growth of 18.8% was largely driven by the growth of our customer base which was up by 25.1% to 5 million,” the company stated.
During the period under review, Airtel Malawi “rolled out its own fibre, covering a total distance of 1,355 kilometres across the country.”
As a result of this, data subscribers grew by 24.4% under the period.
“The roll out will provide best in class data experience to the mobile and broadband customers of Airtel Malawi Plc. Data customer addition of 0.32 million leading to data customer base of 1.62 million.”