If not Okada, then…, Airtel’s Q1 2021 earnings

by | May 13, 2021

This post is a delayed version of Techpoint Digest, a week-daily newsletter that rounds up major happenings in African tech. You can start receiving it hours before everyone else if you subscribe now

Good day,
Oluwanifemi and Bolu here.

Today we’re discussing:

  • Replacement for Okada in Lagos
  • Airtel’s Q1 2021 earnings report

Last-mile buses to replace Okada

It’s about to happen: Lagos State Governor, Babajide Sanwo-Olu, has reportedly announced that a replacement for motorcycles would be launched across the state next week. Per The Cable, these replacements are last-mile buses that can access streets that Bus Rapid Transit (BRT) buses can’t reach.

Going down memory lane: In January 2020, Lagos residents received a rude shock when motorcycles with less than 200cc engines and tricycles were banned from some of the state’s major roads and streets. The ban took effect in February. Residents wailed, business owners complained, bikers protested, and other stakeholders called for redress, all to no avail.

Advertisement

The government said it was a painful but necessary decision to bring sanity and safety to the roads. It promised a replacement, which is coming 14 months later.

Affected parties: Ride-hailing platforms were greatly affected — ORide closed shop while MAX and Gokada pivoted to logistics.

Back to the buses: If anything boosted the market for motorcycle on-demand services while they were in Lagos, it was easy navigation on the usually congested highways and the ability to cover long distances.

From the description, these last-mile buses would only ply designated routes. This means that they might not contribute to the congestion on major roads. But, they wouldn’t be relieving the mass transit buses either. How much of the gap that the Okada ban created would this alternative fill? That’s something to look out for in the coming weeks.

Many Okada and tricycle operators have continued to disregard the ban. And an eyewitness recently captured some riders on the Oshodi-Apapa Expressway.

Worth the wait? Would you consider this the right replacement? Hit Reply.

Airtel’s Q1 2021 earnings

Airtel Africa

Photo Credit: jbdodane Flickr via Compfight cc

African telecom giant, Airtel, has announced its financial results for the first quarter of 2021. Airtel recorded impressive revenue and mouthwatering profits compared to Q1 2020. It’s no surprise that the telco generated more revenue from Nigeria than from all East African countries where it has a presence.

While mobile money and data revenue might have increased by 38.7% and 31.7%, respectively, voice still brought home the lion share despite only a 12% increase from Q1 2020.

Advertisement

Highlights:

  • Profit after tax increased by 100% from $77 million to $154million.
  • Underlying revenue increased by 21.7%, from $899 million to $1.38 billion.
  • Voice revenue went up by 12%, from $510 million to $540 million.
  • Data revenue saw a 31% increase from $253 million to $315 million.
  • Mobile money revenue shot up by 38.7%, from $83 million to $110 million.

Later today, you should totally check out my comparison between Airtel’s Q1 2020 financials and Q1 2021.

Other stories on Techpoint Africa

  • Children under 13 still can’t use Instagram. Well, Facebook tried.
  • Product management sector not excluded from gender disparities in Africa’s tech ecosystem — Report. Read.

In case you missed it

  • Instagram will now let users add pronouns to their profiles. Read.
  • TikTok is reportedly testing a job recruitment tool. Read.
  • Tesla stops taking Bitcoin for vehicle purchases, citing environmental harm. Wow!

Have a great day!

Oluwanifemi Kolawole and Bolu Abiodun for Techpoint Africa.

Techpoint Africa
Techpoint Africa

Techpoint Africa is a digital media company that amplifies the best innovations out of Africa through its mediadata, and events.


Are you in tech and you are looking at getting a foreign remote job or you want to move abroad? Fill this form and you will get the BEST resources to help you get that high paying remote job as well as japa easily! WAGMI!

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

Recent News

Reclaiming stolen African artefacts

Reclaiming stolen African artefacts

On #TechpointDigest, Victoria Fakiya (@latoria_ria) discusses how Traction wants to stop fake alerts, Canza Finance’s journey, Esaal’s $1.7m seed round, and JABU’s $15m series A.

[PODCAST] Relooting African art with NFTs

[PODCAST] Relooting African art with NFTs

What do you think about an NFT project that wants to reclaim Africa’s lost artefacts? Well, the editorial team had some interesting thoughts, and you can listen to this and other stories on today’s episode of #TechpointAfricaPodcast.

$2 million to drive learning via WhatsApp 

$2 million to drive learning via WhatsApp 

On #TechpointDigest, we discuss how major players in the African mobility space can change the mobility narrative, FoondaMate’s $2 million funding, Twitter Create, and AMP’s $5.6 million seed round.

[PODCAST] Taxing calls to give you healthcare

[PODCAST] Taxing calls to give you healthcare

The Nigerian government wants to tax phone calls to provide better healthcare. In today’s edition of the #TechpointAfricaPodcast, we discuss possible implications and upsides to this.

Subscribe to Techpoint Digest!

A daily 5-minute roundup of happenings in African and global tech, sent directly to your email inbox, between 5 a.m. and 7 a.m (WAT) every week day!

Please check your email to confirm your subscription.

Subscribe to Blockchain Explorer

Analysis oninnovation, regulations, and trends inthe blockchain sector, as it concerns Africa

Please check your email to confirm your subscription.

Subscribe to The Experts

A bi-weekly where tech career specialists take us on their journey from newbie to expert, and how they became successful in the industry.

Please check your email to confirm your subscription.

Subscribe to Founder's Table

A monthly series, where we catch up with founders in the startup ecosystem, learn about their failures, successes and a few tricks of the trade

Please check your email to confirm your subscription.

Copy link
Powered by Social Snap