November 9, 2023/Cordros Report We update our views and estimates on MTNN for 2023E, following the publication of the company’s 9M-23 financials. As envisaged in our previous update (see our MTNN H1-23 Earnings Update here) the impact of currency devaluation was significantly felt in Q3-23 as EBITDA (-240bps y/y) and […]

November 9, 2023/JSP Communications Group: Record half-year profit of AED 10.1 billion (US$ 2.7 billion), up 138% from the same period last year, driven by strong demand for international travel across regions. Revenue up 20% to AED 67.3 billion (US$ 18.3 billion). Emirates: Revenue up 19% to AED 59.5 billion […]

November 7, 2023/CSL Research Airtel Africa’s H1 2024 numbers were buoyed largely by growth in mobile money revenue (up 25.5% y/y to US$416m) and data revenue (+5.9% y/y to US$915m) amidst a decline in voice revenue (-4.6% to US$1.16m). However, the company’s bottom line performance was significantly impacted by FX […]