Airtel Africa data and mobile money penetration to double in next 5 years

Airtel is preparing for the launch of the Mobile Money business in Nigeria

Airtel Africa's data and mobile money penetration are set to almost double in the next four to five years, feel analysts. 

Airtel is Africa's second-largest telecom operator, with 100 million mobile subscribers as of June 2019, and has a leading position in most of its markets.  

Goldman Sachs forecasts a 9 per cent revenue compound annual growth rate (CAGR) over FY19 to FY24, driven by 18 per cent data CAGR and 30 per cent CAGR in the Airtel Money business. 

The brokerage said that a combination of an under-penetrated telecom market, a young addressable population, and rising smartphone affordability, along