Airtel Networks Zambia PLC held its Annual General Meeting on March 30th, 2022 and shareholders discussed and approved its audited results for the period ending 31 December 2021. The highlights for the year included increase in the customer base by 19%, with total revenues up by 37.8%. Profit After Tax (PAT) also went up to ZMW 693 million from negative ZMW 341 million in the prior year. This was mainly driven by revenue growth, strong operating efficiencies and appreciation of the Zambian Kwacha.
These results were also driven by increased investments in network infrastructure and distribution especially in rural areas, with a keen focus on providing Voice & Data services to under-served communities. In addditon, development of affordable products and services have driven subscriber retention and acquisition.
The Board recommended a final dividend of ZMW2.40 per share. This proposed final dividend will be paid to all ordinary shareholders who are on the register of members at the close of business on or about 29th April, 2022.
Airtel Zambia Board Chairperson, Ms Monica Musonda commented that, “We had a fruitful and most engaging Annual General Meeting, where we highlighted how our business has continued to perform exceptionally well in the face of global and local challenges such as the COVID-19 pandemic. As a business, we remain on track to achieving our goals and ensuring that we continue to invest in products and services that deliver success for our customers and our shareholders.”
Source: Airtel Zambia