Latest news with #CentralAfrican
TimesLIVE
3 days ago
- Business
- TimesLIVE
IMF's board approves $625m loan deal for Chad
The International Monetary Fund's (IMF) executive board has approved Chad's $625m (R11.16bn) lending programme for four years, including an immediate disbursement of $38.5m (R687.3m), the IMF said in a statement on Friday. The programme, finalised in May between Central African officials and IMF staff, aims to: ensure Chad's fiscal sustainability; create room for development projects; expand targeted social spending to fight poverty; and enhance governance and the business environment to promote private sector growth. That will in turn help with implementing an ambitious national development blueprint that requires $30bn (R535.52bn) in public and private investment in sectors such as roads, electricity, and the digital economy. The plan, due to be launched in Abu Dhabi in September, should lead to average annual economic growth of 8% and help keep the debt level at 32% of gross domestic product over the 2025-2030 period, the country's finance minister said in June. Chad, whose junta leader was sworn in after an election last year, has been under pressure from declining oil prices, development assistance cuts, and regional instability. It hosts hundreds of thousands of refugees from Sudan's civil war who live in dire shelter conditions due to funding shortages.
Straits Times
5 days ago
- Business
- Straits Times
IMF's board approves $625-million loan deal for Chad
Find out what's new on ST website and app. A view of the International Monetary Fund (IMF) logo at its headquarters in Washington, D.C., U.S., November 24, 2024. REUTERS/Benoit Tessier/File Photo The International Monetary Fund's executive board approved Chad's $625-million lending programme for four years, including an immediate disbursement of $38.5 million, the IMF said in a statement on Friday. The program, finalized in May between Central African officials and IMF staff, aims to ensure Chad's fiscal sustainability, create room for development projects, expand targeted social spending to fight poverty, and enhance governance and the business environment to promote private sector growth, the IMF said. That will in turn help with implementing an ambitious national development blueprint that requires $30 billion in public and private investment in sectors such as roads, electricity, and the digital economy. The plan, due to be launched in Abu Dhabi in September, should lead to average annual economic growth of 8% and help keep the debt level at 32% of gross domestic product over the 2025-2030 period, the country's finance minister said in June. Chad, whose junta leader was sworn in after an election last year, has been under pressure from declining oil prices, development assistance cuts, and regional instability. It hosts hundreds of thousands of refugees from Sudan's civil war who live in dire shelter conditions due to funding shortages. REUTERS
India.com
7 days ago
- Business
- India.com
Good news for Sunil Mittal, Airtel earns Rs 13480755600 from…, not in India, Sri Lanka, or Bangladesh, but…
Telecom operator Airtel Africa reported a surge in profit after tax (PAT) to USD 156 million for the June quarter, driven by strong customer growth, reduced capital expenditure, and foreign exchange gains. In comparison, the company had recorded a PAT of USD 31 million during the same quarter last year. Airtel Africa Q1 Results 'Profit after tax of USD 156 million improved from USD 31 million in the prior period. The prior period was significantly impacted by derivative and foreign exchange losses, primarily in Nigeria, while the current period benefited from a USD 22 million gain largely arising from the Central African franc (CFA) appreciation during the quarter,' the company said in a statement on Thursday. Airtel Africa CEO On Q1 Results Airtel Africa Chief Executive Officer Sunil Taldar said the acceleration in customer base growth to 9 per cent, and 17.4 per cent growth in data customers to 75.6 million reflect strong on-ground execution and the simplification of customer experience. 'With smartphone penetration at only 45.9 per cent, we see significant headroom to drive further adoption and play a key role in bridging the digital divide. Mobile money remains a cornerstone of our current and future growth proposition. With our customer base approaching 46 million and expanding by over 16 per cent, we see significant potential to further advance financial inclusion through the continued growth of our financial services offering,' Taldar said. The revenue of Airtel Africa increased 22.4 per cent to USD 1,415 million during the reported quarter from USD 1,156 million a year ago. The company said capex of USD 121 million was lower compared to USD 147 million in June 2024 quarter driven largely by timing differences.
News18
7 days ago
- Business
- News18
Airtel Africa Q1 profit grows multifold to USD 156 million
New Delhi, Jul 24 (PTI) Telecom operator Airtel Africa posted multifold growth in profit after tax (PAT) to USD 156 million in the June quarter mainly on account of customer growth, lower capex, and forex gain. The company had posted a profit after tax of USD 31 million in the same period a year ago. 'Profit after tax of USD 156 million improved from USD 31 million in the prior period. The prior period was significantly impacted by derivative and foreign exchange losses, primarily in Nigeria, while the current period benefited from a USD 22 million gain largely arising from the Central African franc (CFA) appreciation during the quarter," the company said in a statement on Thursday. Airtel Africa Chief Executive Officer Sunil Taldar said the acceleration in customer base growth to 9 per cent, and 17.4 per cent growth in data customers to 75.6 million reflect strong on-ground execution and the simplification of customer experience. 'With smartphone penetration at only 45.9 per cent, we see significant headroom to drive further adoption and play a key role in bridging the digital divide. Mobile money remains a cornerstone of our current and future growth proposition. With our customer base approaching 46 million and expanding by over 16 per cent, we see significant potential to further advance financial inclusion through the continued growth of our financial services offering," Taldar said. The revenue of Airtel Africa increased 22.4 per cent to USD 1,415 million during the reported quarter from USD 1,156 million a year ago. The company said capex of USD 121 million was lower compared to USD 147 million in June 2024 quarter driven largely by timing differences. Airtel Africa has enhanced capex guidance for the full year to be in the range of USD 725 million and USD 750 million from USD 670 million it incurred in FY25. PTI PRS TRB view comments First Published: July 24, 2025, 18:15 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Time of India
7 days ago
- Business
- Time of India
Airtel Africa Q1 profit grows multifold to USD 156 million
Telecom operator Airtel Africa posted multifold growth in profit after tax (PAT) to USD 156 million in the June quarter mainly on account of customer growth, lower capex, and forex gain. The company had posted a profit after tax of USD 31 million in the same period a year ago. Explore courses from Top Institutes in Please select course: Select a Course Category Public Policy Data Science Others Management healthcare Digital Marketing Degree PGDM Data Analytics Cybersecurity Leadership Operations Management Artificial Intelligence MBA CXO others Finance Design Thinking Project Management MCA Data Science Product Management Healthcare Technology Skills you'll gain: Duration: 12 Months IIM Calcutta Executive Programme in Public Policy and Management Starts on undefined Get Details Skills you'll gain: Economics for Public Policy Making Quantitative Techniques Public & Project Finance Law, Health & Urban Development Policy Duration: 12 Months IIM Kozhikode Professional Certificate Programme in Public Policy Management Starts on Mar 3, 2024 Get Details by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Bangalore: 1 Trick to Reduce Belly Fat? Home Fitness Hack Shop Now Undo "Profit after tax of USD 156 million improved from USD 31 million in the prior period. The prior period was significantly impacted by derivative and foreign exchange losses, primarily in Nigeria, while the current period benefited from a USD 22 million gain largely arising from the Central African franc (CFA) appreciation during the quarter," the company said in a statement on Thursday. Airtel Africa Chief Executive Officer Sunil Taldar said the acceleration in customer base growth to 9 per cent, and 17.4 per cent growth in data customers to 75.6 million reflect strong on-ground execution and the simplification of customer experience. "With smartphone penetration at only 45.9 per cent, we see significant headroom to drive further adoption and play a key role in bridging the digital divide. Mobile money remains a cornerstone of our current and future growth proposition. With our customer base approaching 46 million and expanding by over 16 per cent, we see significant potential to further advance financial inclusion through the continued growth of our financial services offering," Taldar said. Live Events The revenue of Airtel Africa increased 22.4 per cent to USD 1,415 million during the reported quarter from USD 1,156 million a year ago. The company said capex of USD 121 million was lower compared to USD 147 million in June 2024 quarter driven largely by timing differences. Airtel Africa has enhanced capex guidance for the full year to be in the range of USD 725 million and USD 750 million from USD 670 million it incurred in FY25.
