Airtel Africa to outgun MTN, Orange, Vodacom on revenue growth in 2025: Analysts
Bharti Airtel’s Africa unit is seeing strong business resurgence and is set to pull ahead of rival telcos operating in the African continent, including MTN, Vodacom and Orange by recording the highest revenue growth in Year 2025, analysts and industry experts said.
London-based NewStreet Research estimates that Airtel Africa Plc will deliver 20.6% on-year revenue growth in Year 2025 vs 17.2% (MTN), 9% (Orange) and 6.8% (Vodacom).
In Year 2024, Airtel Africa is estimated to have drawn level with MTN, with both telcos slated to report over 21% on-year revenue growth — significantly higher than Orange and Vodacom’s 9.4% and 6.4% estimated growth levels respectively, the UK brokerage added.
Analysts and industry executives said Airtel Africa is well positioned to benefit from growth in its enterprise, fintech and fixed wireless businesses in calendar 2025 despite the impact of the Nigerian Naira devaluation.
“Airtel Africa is the outperformer among African portfolio telcos, and it grows faster, with higher margins and lower capex/sales than peers. And despite extreme macro headwinds faced over the least 2 –3 years, it has been able to deliver US$ revenue growth that has compounded at 7.5% (CAGR 19-24E),” NewStreet Research said in a note seen by ET.
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