Telecoms sector tackle economic knocks

BUUMBA CHIMBULU writes THE Telecommunication businesses should scale up approaches as it is provides strategically essential services to ensure the continued contribution to national economies as the industry is more resilient compared to some other sectors, says Airtel Africa Chief Executive Officer, Raghunath Mandava. Mr Mandava explained that the industry had so far shown resilience against the current Covid-19 which had affected economies across the world. He indicated that Airtel Africa’s performance during the month of April had been resilient as the business continued to deliver constant currency revenue growth, although at a lower rate. “Telecoms businesses provide strategically essential services to ensure the functioning of economies and communities and are, therefore, more resilient compared to some other sectors. “In Africa, the spread of the covid-19 has lagged the rest of the world and, therefore, it is difficult to precisely forecast what the impact of this will be on customers and business,” he said in a statement. Mr Mandava stressed that the company’s view on medium-term opportunities across its footprint had not changed despite entering in an increased volatility in a strong financial position. He emphasised that all the company’s markets would continue to benefit from strong population growth and the need for increased connectivity and financial inclusion. “More recently, the markets where we operate have begun to be impacted by the Covid-19 and the related actions that governments have implemented to reduce the risk of contagion. “Our priority has been to keep our colleagues, suppliers and customers safe whilst supporting the communities in which we operate,” he said. Mr Mandava also announced that Airtel Africa recoded a strong set of results as at end of March 2020. He explained that customer base was up by 11 percent to 110.6 million and that revenue increased by 11.2 percent to US$3,422 million, with the fourth quarter income increasing by 15.1 percent. Mr Mandava indicated that revenue in constant currency grew by 13.8 percent in the full year and 17.9 percent in the fourth quarter. The Sun