Economy
Airtel Africa’s Q1’19 Revenue Rises 6.9%, PAT Drops 12.2%
By Dipo Olowookere
The board of Airtel Africa Plc has announced the release of the first quarter results of the company for the period ended June 30, 2019.
This is the first quarterly financial statements of the telco after its Initial Public Offering (IPO) some weeks ago and its listing on both the London Stock Exchange (LSE) and the Nigerian Stock Exchange (NSE).
From the brief analysis of the financial status of the firm, Business Post observed that the revenue generated improved by 6.9 percent to $795.9 million from $744.5 million. This was buoyed by its operations from Nigeria, which recorded a revenue growth of 22.2 percent to $312.9 million from $256.2 million. Its East Africa arm recorded a marginal 4.0 percent rise in revenue, while the rest of Africa suffered a 8.0 percent decline in revenue in the first quarter of the year.
A further analysis of the results showed that the expenses incurred by the company increased by 3.2 percent to $452.3 million from $438.4 million, while the net finance costs increased to $81.5 million from $73.9 million.
In Q1 2019, Airtel Africa said its underlying EBITDA was $347.6 million against $316.9 million in Q1 2018, while the operating profit stood at $186.2 million as at June 30, 2019 in contrast to $169.8 million as at June 30, 2018.
It was further revealed by the board that in the first quarter of its 2019 financial year, the profit before tax was $167.4 million compared with $80.2 million in the first quarter of 2018 fiscal year, indicating 108.8 percent growth.
However, the profit after tax (PAT) went down by 12.2 percent to $132.2 million in Q1 2019 from 150.6 million in Q1 2018, while the earnings per share (EPS) depreciated by 62.2 percent to 4.1 Cents from 10.8 Cents.
A look at the customer base of the telecommunications firm showed a 9.3 percent growth to 99.7 million in the period under review from 91.2 million in the same period of 2018.
While commenting on the results, the Chief Executive Officer of Airtel Africa, Mr Raghunath Mandava, said, “I am pleased to report a strong start to the financial year, in our first quarterly results since the IPO. These results, which are in line with our expectations, are clear evidence of the effectiveness of our strategy across Voice, Data and Mobile Money.
“In the quarter, we delivered a 10 percent increase in revenue in constant currency terms, with even higher underlying EBITDA growth largely as a result of operating leverage and a tight focus on costs which led to underlying EBITDA margin expansion of 101 bps.
“Voice revenue, our largest business product, was up 3 percent largely driven by 9 percent growth in our customer base, now reaching nearly 100 million customers across our footprint.
“Data revenue, our largest contributor to growth, was up 36 percent as an increasing number of customers relied on our high-quality and high-speed LTE network, resulting in a 79 percent growth in data usage.
“Mobile Money revenue, our fastest growing business, increased by 42 percent as we expanded our distribution reach.
“We continued to invest in our 4G network, adding nearly 1,500 sites; now more than half of our sites are 4G. We also continue to prepare for the launch of our Mobile Money business in Nigeria, securing approval of the brand name, an important step as we await approval for our payment service bank license.
“The business continues to show momentum and we are confident of delivering sustained growth across Voice, Data and Mobile Money, underpinning our medium-term aspirations for revenue and profit growth.”
By Aduragbemi Omiyale
The pre-registration training and examination for capital market operators (CMOs) for the second quarter of 2026 has been postponed.
Business Post gathered that the new date for the exercise is now Monday, June 15, 2026.
This information was disclosed by the Securities and Exchange Commission (SEC) through a circular on Monday, June 8, 2026.
The Nigerian capital market regulator stated that this postponement has also resulted in the extension of the deadline for registration to Friday, June 12, 2026.
In the notice today, the SEC expressed its regret for the inconvenience this action may cause operators, who had prepared for the initial date of the training and examination.
“Further to the recent circular on Q2 2026 Pre-registration Training and Examination, the Securities and Exchange Commission (SEC) hereby informs all eligible applicants for the Q2 2026 Pre-registration Training and Examination that the commencement date has been postponed to Monday, June 15, 2026.
“Registration on the designated portal has also been extended to Friday, June 12, 2026. All other conditions contained in the circular remain unchanged.
“The commission regrets any inconvenience this postponement may cause and appreciates the understanding of all applicants,” the disclosure noted.
By Aduragbemi Omiyale
One of the leading healthcare firms in Nigeria, Fidson Healthcare Plc, has listed additional shares on the Nigerian Exchange (NGX) Limited.
The new stocks absorbed into the stock market were 600 million units, raising the total issued and fully paid-up shares of Fidson to 3,000,000,000 ordinary shares of 50 Kobo each from 2,400,000,000 ordinary shares of 50 Kobo each.
The fresh equities came from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share.
They were issued to existing investors on the basis of one new ordinary share for every existing four ordinary shares held as of the close of business on Wednesday, November 12, 2025.
Confirming the development, the regulator in a notice said, “Trading licence holders are hereby notified that an additional 600,000,000 ordinary shares of 50 Kobo each of Fidson Healthcare Plc were on Tuesday, June 2, 2026, listed on the daily official list of Nigerian Exchange Limited.
“The additional shares arose from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share on the basis of one new ordinary share for every existing four ordinary shares held as at the close of business on Wednesday, November 12, 2025.
“With the listing of the additional 600,000,000 ordinary shares, the total issued and fully paid-up shares of Fidson Healthcare Plc have now increased from 2,400,000,000 to 3,000,000,000 ordinary shares of 50 Kobo each.”
By Modupe Gbadeyanka
This news will surely excite local contractors with verified claims of N100 million or less, as the federal government has approved their payments.
This approval for the disbursement was given by the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele.
This followed a verification and reconciliation exercise designed to ensure only validated claims qualify for payment.
The beneficiaries cover contractors across multiple ministries, departments and agencies. The release of the funds is expected to enable contractors to return to project sites, pay workers, settle suppliers and meet outstanding financial commitments.
In an announcement on Monday, the Federal Ministry of Finance also said this latest batch of payments would ease liquidity pressure on small businesses and accelerate economic activity nationwide.
It was noted that the payments for verified claims of N100 million below were strategically done to spread economic impact broadly rather than concentrate disbursements among a handful of large firms.
The payments form part of a broader push to clear inherited contractor obligations, with over N700 billion verified in recent months.
“For many beneficiaries, the release of funds represents more than a financial transaction. It provides the certainty needed to sustain operations, preserve jobs, complete ongoing projects, and contribute to economic recovery and growth,” the ministry said in a statement.
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