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Africa boosts Millicom’s revenues

By , IT in government editor
Africa , 11 Feb 2014

Africa boosts Millicom’s revenues

International telecoms and media company Millicom's Africa operations helped boost revenue for the company in the fourth quarter ending 2013.

The telecoms group, which provides digital lifestyle services to emerging markets through mobile devices, stated that its total revenue had increased by over 7% to exceed $5 billion in 2013.

According to the company, its Africa operations signalled the first positive signs of growth with revenue rising 9% in the fourth quarter of 2013.

Millicom operates mobile networks in seven African countries namely Chad, Democratic Republic of Congo, Ghana, Mauritius, Rwanda, Senegal and Tanzania. Millicom operates in Africa under the name Tigo.

The Luxembourg headquartered firm has also revealed that it added 50% more customers over the first nine months of the year.

It also stated that this month it plans to launch the world’s first Mobile Financial Services (MFS) with currency conversion in Africa.

Millicom’s president and chief executive officer Hans-Holger Albrecht said, "Millicom's growth story continues."

Albrecht said, "Adding almost 1.7 million mobile customers to exceed 50 million customers for the first time is one of many significant milestones this quarter. Adding 100,000 data users a week and gaining 500,000 customers in six months in the recently troubled Kivu region in DRC are examples of our determination and spirit."

Regarding its online services, Millicom said it continues to actively roll out offerings across Africa and Latin America.

Meanwhile, the company has also entered into a landmark agreement with MTN and Rocket Internet to accelerate development of online businesses in Africa.

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