Airtel Africa Plc, a leading provider of telecommunications and mobile money services, has reported a loss in the first quarter following a currency devaluation in its largest market, Nigeria. This comes despite the company reporting revenue that beat analysts’ estimates.
The currency devaluation in Nigeria has had a significant impact on Airtel Africa’s financial performance. The company has been working to mitigate the effects of the devaluation, but it has still resulted in a loss for the first quarter.
Despite this setback, Airtel’s revenue has beaten analysts’ estimates. This is a positive sign for the company and shows that it is still performing well in other areas.
Airtel Africa is a major player in the telecommunications and mobile money markets in Africa. The company has a strong presence in several countries across the continent and is well-positioned to continue growing in the future.
READ ALSO: Nigeria Has Failed the World – Obasanjo
BIG STORY: INEC Disabling FCT Results