Latest news with #financialinclusion
Zawya
19 hours ago
- Business
- Zawya
Airtel Africa plc: Results for quarter ended 30 June 2025
Operating highlights Our total customer base grew [1] by 9.0% to 169.4 million, with data customers increasing 17.4% to 75.6 million as the focus on bridging the digital divide across our markets continues. This, alongside a 4.3% increase in smartphone penetration to 45.9%, contributed to accelerating demand for data services with data ARPU growth accelerating to 18.5% in constant currency1 as data usage across our network increased by 47.4%. Airtel Money continues to play a pivotal role in fostering financial inclusion with a 16.1% increase in customers to 45.8 million. As use cases continue to expand, customers are increasingly engaging with a wide range of offerings supporting a 35% increase in annualised transaction value to $162bn, and ARPU growth of 11.3% in constant currency. Our strategic focus on great customer experience is underpinned by sustained network investment with the rollout of over 2,300 new sites to reach 37,579 sites and an expansion of our fibre network by 2,700 kms to over 79,600 kms. This investment continues to drive increased data capacity across the region with 4G population coverage reaching 74.7% – an increase of 3.4% from a year ago. Financial performance Revenues of $1,415m saw strong growth of 24.9% in constant currency and 22.4% in reported currency as currency headwinds continue to ease over the last three quarters. The acceleration in constant currency revenue growth from the previous quarter reflects not only the impact of the tariff adjustments in Nigeria, but also a strong performance in Francophone Africa reflecting the continued execution of our strategy focussed on the customer experience. Across the Group, mobile services revenue grew by 23.8% in constant currency, driven by voice revenue growth of 13.9% and data revenue growth of 38.1%. Mobile money revenues continued to see a strong growth trajectory, with 30.3% growth in constant currency. EBITDA grew by 29.8% in reported currency to $679m with EBITDA margins expanding further to 48.0% from 45.3% in the prior period driven by continued operating momentum, more stable fuel prices and sustained benefits from our cost efficiency programme. Profit after tax of $156m improved from $31m in the prior period. The prior period was significantly impacted by derivative and foreign exchange losses, primarily in Nigeria, while the current period benefitted from a $22m gain largely arising from the Central African franc (CFA) appreciation during the quarter. Basic EPS of 3.4 cents compares to 0.2 cents in the prior period, predominantly reflecting higher operating profit in the current period and derivative and foreign exchange losses in the prior period. EPS before exceptional items increased from 2.3 cents in the prior period to 3.4 cents, as higher operating profits more than offset the impact of higher finance costs arising from the tower contract renewals undertaken during the previous financial year. Capital allocation Capex of $121m was lower compared to the prior period, driven largely by timing differences. Capex guidance for the full year remains between $725m and $750m. We continued with our debt localisation programme aimed to reduce our foreign currency debt exposure with almost 95% of our OpCo debt (excl. lease liabilities) now in local currency, up from 86% a year ago. Leverage has increased from 1.6x to 2.2x (an improvement from 2.3x in Q4'25), primarily reflecting the $1.3bn increase in lease liabilities arising from the tower contract renewals, as previously disclosed. Lease-adjusted leverage remains flat at 0.9x. Since the commencement of the second tranche of the share buyback for $55m, the company has returned $16.9m to shareholders following the purchase of 7.1 million ordinary shares as of 30 June 2025. Sunil Taldar, chief executive officer, on the trading update: 'We are very pleased with the strong growth in our operating and financial performance in the first quarter. The strength of this performance, and the scale of the growth we achieved, reflects the sustained demand for our services and the strength of our business model to meet these demands. Operationally, the acceleration in customer base growth to 9%, and 17.4% growth in our data customers to 75.6m reflects the strong on-ground execution with a relentless focus on digitisation and the simplification of the customer experience. Our strategy continues to prioritise the customer experience, as demonstrated by the launch of Airtel Spam Alert—an AI-powered solution aimed at enhancing trust and delivering a safer network environment. This underscores our commitment to leveraging technology to lower barriers to smartphone adoption. With smartphone penetration at only 45.9%, 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%, we see significant potential to further advance financial inclusion through the continued growth of our financial services offering. The continued expansion of our mobile money portfolio and the advancement of enterprise and digital payments contributed to a 35% growth in annualised transaction value to $162bn. We will continue to focus on technology and the range of product offerings to deliver a differentiated experience for our customers. The provision of these essential services and the strategic focus on providing a great customer experience underpinned the acceleration in constant currency revenue growth to 24.9%, translating into reported currency revenue growth of over 22% as currencies stabilise. This strong revenue performance and continued cost efficiencies contributed to further EBITDA margin expansion which resulted in strong EBITDA growth of approximately 30%, and we remain focussed on further margin improvements subject to macroeconomic stability. With a strong balance sheet and sustained network investment, I remain confident about our ability to capture the available growth potential across our markets and remain committed to efficiently and effectively delivering services that help to improve the lives, communities and economies we serve.' Alternative performance measures (APM) 2 (Quarter ended) Description Jun-25 Jun-24 Reported currency Constant currency $m $m change change Revenue 1,415 1,156 22.4% 24.9% EBITDA 679 523 29.8% 32.7% EBITDA margin 48.0% 45.3% 276 bps 282 bps EPS before exceptional items ($ cents) 3.4 2.3 48.6% Operating free cash flow 558 376 48.4% About Airtel Africa Airtel Africa is a leading provider of telecommunications and mobile money services, with operations in 14 countries in sub-Saharan Africa. Airtel Africa provides an integrated offer to its subscribers, including mobile voice and data services as well as mobile money services both nationally and internationally. The company's strategy is focused on providing a great customer experience across the entire footprint, enabling our corporate purpose of transforming lives across Africa. Enquiries Airtel Africa – Investor Relations Alastair Jones Hudson Sandler Nick Lyon Emily Dillon airtelafrica@
Associated Press
2 days ago
- Business
- Associated Press
2025 Prepaid Card and Digital Wallet Market Intelligence and Future Growth Dynamics Report
DUBLIN--(BUSINESS WIRE)--Jul 23, 2025-- The 'Prepaid Card and Digital Wallet Market Intelligence and Future Growth Dynamics Databook - Q2 2025 Update' report has been added to offering. The global prepaid card and digital wallet market is expected to grow by 11.3% on annual basis to reach US$ 2.13 trillion in 2025. The global prepaid card and digital wallet market has experienced robust growth during 2020-2024, achieving a CAGR of 13.6%. This upward trajectory is expected to continue, with the market forecast to grow at a CAGR of 9.1% during 2025-2029. By the end of 2029, the prepaid card and digital wallet market is projected to expand from its 2024 value of US$ 1.92 trillion to approximately US$ 3.02 trillion. The prepaid card market is undergoing significant transformations across different regions, driven by country-specific trends and evolving consumer behaviors. China's deepening integration of prepaid cards with digital wallets, India's use of prepaid solutions for government disbursements, and the United States' increasing reliance on prepaid travel cards highlight the diverse applications of these financial instruments. These trends reflect the broader movement towards cashless transactions, financial inclusion, and enhanced payment security. Over the next few years, the global prepaid card market is expected to expand further, fueled by technological innovations, regulatory support, and increased adoption by businesses and governments. Countries such as South Korea and Brazil are seeing prepaid card solutions becoming embedded in mobile payments and e-commerce, setting the stage for continued growth. As competition intensifies and financial institutions enhance their offerings, prepaid cards will be more integral in the digital payment ecosystem worldwide. Competitive Landscape of the Global Prepaid Card Market The prepaid card market is changing significantly, with global demand rising across different sectors and regions. Established financial institutions, fintech firms, and technology companies actively compete to introduce innovative prepaid solutions, making the market highly dynamic. As regulatory frameworks evolve and consumer adoption increases, prepaid cards will continue to play a central role in the digital payment ecosystem. To remain competitive over the next few years, businesses and financial service providers must adapt to changing consumer expectations, regulatory requirements, and technological advancements. With the growing emphasis on security, convenience, and financial inclusion, the global prepaid card market is set for sustained expansion, presenting opportunities for market participants to innovate and scale their operations. Expansion of Digital Payment Ecosystems in China Adoption of Prepaid Cards for Government Disbursements in India Growth of Prepaid Travel Cards in the United States Integration of Prepaid Cards with Mobile Payment Systems in South Korea Rising Use of Prepaid Cards for E-commerce in Brazil Key Players and Market Share Recent Launches and Partnerships Prepaid Card Market Analysis Digital Wallet Market Insights Virtual Prepaid Card Market Segmentation Key Attributes: For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. View source version on CONTACT: Laura Wood, Senior Press Manager [email protected] For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900 KEYWORD: INDUSTRY KEYWORD: FINANCE BANKING PAYMENTS PROFESSIONAL SERVICES TECHNOLOGY SOURCE: Research and Markets Copyright Business Wire 2025. PUB: 07/23/2025 10:11 AM/DISC: 07/23/2025 10:11 AM
Zawya
2 days ago
- Business
- Zawya
ADNIC and Sheikh Zayed Housing Program sign strategic partnership to support UAE Nationals with life insurance
Abu Dhabi, UAE: Abu Dhabi National Insurance Company (ADNIC), one of the leading regional multi-line insurance providers for both corporates and individuals, has announced a strategic partnership with the Sheikh Zayed Housing Program (SZHP) to launch a specialised life insurance offering for eligible UAE Nationals. The partnership was formalised as part of a signing ceremony in Dubai, marking the official public launch of the program. ADNIC will manage and lead the insurance program along side other leading insurance companies in the UAE that are associated with the program. The initiative will provide life insurance coverage up to the age of 95, substantially extending beyond the market norm of 70 years old. This enables Emiratis aged up to 70 to still qualify for housing loans with a maximum tenure of 25 years, significantly enhancing financial inclusion for older borrowers. The housing loans under the Sheikh Zayed Housing Program are administered through leading local banks that have been associated with program since its inception. Commenting on this partnership, Charalampos Mylonas, Chief Executive Officer of ADNIC, said: 'As an insurer working at the very heart of the community, we understand why life insurance is so important as it guarantees families a measure of protection against the adverse financial consequences. As such, we're proud to work alongside the Sheikh Zayed Housing Program (SZHP) to give individuals a greater sense of economic security and peace of mind. At ADNIC, our commitment remains to make insurance truly about people by protecting their income, assets, health, and lives.' While the scheme is already active through the participating banks, the signing ceremony marked its official public announcement. This milestone reflects ADNIC's continued leadership in developing solutions that support national priorities and the evolving needs of citizens. -Ends- About Abu Dhabi National Insurance Company Abu Dhabi National Insurance Company (ADNIC) PJSC is a composite insurance partner with long standing expertise in providing insurance products to individuals and corporates across the Middle East and North Africa (MENA) region. Founded in the United Arab Emirates (UAE) in 1972, ADNIC has a wide network of branches as well as sales and service centres across the country. ADNIC also has a representative office in London, under the name ADNIC International Ltd. ADNIC is a publicly listed company on Abu Dhabi Securities Exchange (ADX). For more information, please contact: media@
Al Bawaba
2 days ago
- Business
- Al Bawaba
ADNIC and Sheikh Zayed Housing Program sign strategic partnership to support UAE Nationals with life insurance
Abu Dhabi National Insurance Company (ADNIC), one of the leading regional multi-line insurance providers for both corporates and individuals, has announced a strategic partnership with the Sheikh Zayed Housing Program (SZHP) to launch a specialised life insurance offering for eligible UAE Nationals. The partnership was formalised as part of a signing ceremony in Dubai, marking the official public launch of the will manage and lead the insurance program along side other leading insurance companies in the UAE that are associated with the program. The initiative will provide life insurance coverage up to the age of 95, substantially extending beyond the market norm of 70 years old. This enables Emiratis aged up to 70 to still qualify for housing loans with a maximum tenure of 25 years, significantly enhancing financial inclusion for older housing loans under the Sheikh Zayed Housing Program are administered through leading local banks that have been associated with program since its on this partnership, Charalampos Mylonas, Chief Executive Officer of ADNIC, said: 'As an insurer working at the very heart of the community, we understand why life insurance is so important as it guarantees families a measure of protection against the adverse financial consequences. As such, we're proud to work alongside the Sheikh Zayed Housing Program (SZHP) to give individuals a greater sense of economic security and peace of mind. At ADNIC, our commitment remains to make insurance truly about people by protecting their income, assets, health, and lives.' While the scheme is already active through the participating banks, the signing ceremony marked its official public announcement. This milestone reflects ADNIC's continued leadership in developing solutions that support national priorities and the evolving needs of citizens. © 2000 - 2025 Al Bawaba ( Signal PressWire is the world's largest independent Middle East PR distribution service.
Arab News
2 days ago
- Business
- Arab News
Pakistan grants first digital-only license to non-life insurer in regulatory first
KARACHI: Pakistan's top financial regulator has issued the country's first-ever digital-only license to a non-life insurer, allowing Karachi-based Digi Insurance Limited to operate entirely without a physical branch network, the Securities and Exchange Commission of Pakistan (SECP) said on Tuesday. The license enables Digi Insurance to sell general insurance products — such as motor, health and travel coverage — through a fully digital platform, with no in-person interaction or branch infrastructure required. The approval marks a regulatory milestone for Pakistan's insurance industry as it seeks to modernize and improve accessibility. 'This development reflects SECP's broader objective of enabling financial inclusion through responsible innovation and encouraging customer-centric, tech-enabled insurance solutions,' the commission said in a statement. The SECP said the approval was granted under a revised regulatory framework aimed at supporting new business models and encouraging the use of technology in insurance distribution, policy issuance and claims processing. The Pakistani financial regulator said it expects the move to promote competition, expand access to underserved markets and encourage further innovation across the sector. It also maintained digital models offer a scalable, cost-effective alternative that could help close Pakistan's insurance gap.
