Airtel Continues to Diversify Revenue
Airtel Africa has launched a video streaming product in Kenya - the Airtel TV. The mobile giant is also partnering with Standard Chartered Bank to drive financial inclusion across the continent through mobile services. TC Daily explains what is driving this redesign:
Like a number of telcos, Airtel Africa is diversifying its revenue away from voice and SMS and in the last few years, has ramped up data revenue and rolled out digital content via its video-on-demand (VOD) platform, Airtel TV. Financial services are also part of Airtel Africa's diversification plan. And already, the telco is seeing results. In Q2 2020, it grew mobile money revenue to US$81 million, a 20% growth over the 12 month period. As at June 2020, its mobile money user base stood at 18.5 million. A partnership with Standard Chartered opens up an extensive customer base to Airtel Africa and opportunities to create new products and keep the adoption of its fintech services on an upward trajectory.