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Key takeaways from Airtel Africa’s financial statement for the year ended March 2022



For the period under review, the telco said its underlying revenue increased by 20.6% to $4.7 billion, higher than the $3.9 billion that was reported during the comparable financial year ended March 2021.

The increase was driven by strong performance in the voice, data and mobile money segments of the company’s operation. Specifically, revenue generated from the voice segment stood at $2.3 billion, followed by data revenue at $1.5 billion and then mobile money revenue at $553 million. Other revenue generated by the company for the period stood at $407 million.

The company’s total expenses for the period under review was $2.4 billion. Among the expenses is a total tax charge of $469 million.

Meanwhile, profit after tax for the period stood at $755 million, indicating an 82.0% growth year on year.

While commenting on the telco’s impressive performance, the Chief Executive Officer, Segun Ogunsanya, said:

“This is another strong set of results for Airtel Africa, demonstrating our solid execution as we continue to enrich the lives of a growing number of people through leveraging the sizeable opportunity to promote digital and financial inclusion across our markets. We have delivered strong double-digit growth in revenues across all our regions and all our key services, with improving margins driven by strong cost control, and expanding cash generation which is enabling us to continue to invest in our network and services and expand our distribution, as well as strengthening our balance sheet and increasing our returns to shareholders.”

As you should know, Airtel Africa is leading provider of telecom and mobile money services across 14 African countries. It currently has a total user base of 128.4 million, marking an 8.7% increase compared to 118.2 million during the preceding financial year.

The company is also listed on the Nigerian Exchange where it currently trades with a share price of N1,400 ($3.3).

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Aaron Ramsey missed the decisive penalty for Rangers as Eintracht Frankfurt wins the Europa League final



The rest of the game would be tightly contested from there and even though Rangers had the best chances in extra time, they were met by Frankfurt’s in-form goalkeeper, Kevin Trapp.

The German international made multiple saves to take the game to penalties where he would then make another save, this time to deny Aaron Ramsey and win the trophy.

Aaron Ramsey proves that you can take the man out of Arsenal but it is damn near impossible to take the Arsenal out of a man.

Despite having left Arsenal three years ago, Aaron Ramsey’s Arsenal tendencies have cost Rangers what would have been a historic European trophy.

What’s more Arsenal than missing a penalty to win a major European trophy? Missing a penalty when that is literally the only reason he was on the pitch in the first place.

The Welshman was brought on by Rangers’ head coach, Giovanni Van Bronckhorst with three minutes of extra time left to play, indicating that Ramsey was a penalty substitute.

Not only did Ramsey’s involvement in this game ultimately prove unnecessary, but his entire Rangers career also appears to be a costly mistake.

With three minutes of action, Ramsey ruined 120 minutes of hard work by his teammates and it doesn’t feel worth it from a player who has been underwhelming all season long.

Rangers signed Ramsey on loan from Juventus in January to add some much-needed quality and experience to the squad but the 32-year old has failed to make much of an impact.

Ramsey has played 12 games in all competitions for Rangers and returned two goals and assists each and only started once in the Europa League run.

Ramsey missing the decisive penalty must have hurt Van Bronckhorst even more with the knowledge that they could have prosecuted the entire final without him anyway.

And now that he has cost Rangers a season-long goal, Ramsey gets to return to his parent club Juventus while the Scottish club are left licking their wounds and regretting the whole ordeal.

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Neymar buys 2021 AFCON final ball for a whopping €160,000



The 2021 AFCON was won by Senegal, who defeated Egypt on penalties following a goalless draw in regulation and extra time.

Sadio Mane was the hero as he scored the winning penalty in the shootout to make amends for his earlier miss during the game.

Aliou Cisse’s side went on to win 4-2 on penalties after Mohamed Abdelmonem and Mohanad Lasheen missed their kicks.

Gueye, therefore, decided to auction the AFCON final ball for charity, inviting a number of his PSG teammates to the ceremony, including Kylian Mbappe.

Different bids were made for the ball, but Neymar eventually won after paying €160,000 to have the right to own it.

The money accrued from the auction will be used to fund HIV and cancer care for children across Africa.

Meanwhile, there were also autographed jerseys of PSG stars Kaylor Navas, Marco Verratti and Real Madrid striker Karim Benzema that were auctioned.

The 2021 AFCON ball had the signatures of all the Senegal players who represented the country at the tournament as they won their first-ever continental title.

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Adjenim Boateng Adjei: Former PPA CEO and brother-in-law charged by SP



Mr. Boateng Adjei has been charged with eight counts of using public office for profit and nine counts of directly and indirectly influencing the procurement process to obtain an unfair advantage in the award of a procurement contract.

His brother-in-law, Francis Kwaku Arhin, is facing a charge of using public office for profit.

According to a statement signed by Special Prosecutor, Kissi Agyebeng, the two person would be arraign before the High Court in Accra on May 25, 2022.

Adjenim Boateng Adjei was busted in the “Contracts for Sale” investigative documentary produced by journalist, Manasseh Azure Awuni in 2019.

The investigation revealed that Mr. Adjei formed a company, Talent Discovery Limited (TDL), with his brother-in-law after his appointment as the CEO of the PPA.

He was a majority shareholder of 60% while his brother-in-law, Francis Kwaku Arhin, held the remaining 40% of the shares.

While Mr. Adjei was CEO of the PPA, Mr. Arhin was the CEO of Talent Discovery Limited.

The duo were found guilty after an investigation by CHRAJ. CHRAJ found Mr Adjei guilty of conflict of interest and other offences.

He was banned from holding public office for 10 years.

On Wednesday, May 18, 2022, The Fourth Estate reported that Adjenim Boateng Adjei, has withdrawn all the money from his bank accounts that were frozen when investigations into his activities began.

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