BY BAMIDELE FAMOOFO
Airtel Mobile Commerce Nigeria Limited, a subsidiary of Airtel Africa, has been granted full approval by the Central Bank of Nigeria (CBN), to run its mobile money operations in the country.
Airtel Africa, a leading provider of telecommunications and mobile money services, with a presence in 14 countries across Africa, today made the confirmation through the Nigerian Exchange Limited.
“The licence allows us to create an agency network that can service the customers of licenced Nigerian banks, payment service banks and licenced mobile money operators in Nigeria,” a statement from the company disclosed.
The Company which was listed on the NGX on July 29, 2019 made history as the first company to hit N5 trillion on the local bourse in January, surpassing Dangote Cement.
Also in January 2022, Airtel Africa joined the FTSE 100. The Group floated on the London Stock Exchange in June 2019, and has since demonstrated significant growth in its customer base, revenues, profits, margins, and cash generation, as well as strengthening its balance sheet through reduced leverage.
The Group continues to execute its growth strategy to deliver on the significant market potential afforded by the demographics and market dynamics across voice, data and mobile money services.
Segun Ogunsanya, Chief Executive Officer, Airtel Africa disclosed that the company continues to invest in infrastructure and distribution networks across the countries where it operates, supporting their economies and communities. “Sustainability is at the core of our strategy, driven by our guiding purpose of ‘Transforming lives’ across Africa, with people, businesses and governments seeking access to more and better connectivity and improved financial inclusion,” he said.
