12 December 2024

Moov Africa Burkina Faso (Onatel) reported a net income of 13.17 billion CFA francs ($21 million) for the first nine months of 2024, a decrease of 17.3% compared to the 15.9 billion CFA francs generated during the equivalent period in 2023.

The company also saw its earnings before interest, taxes, depreciation and amortization (EBITDA) fall by 4.7% to 58.53 billion CFA francs while turnover increased by 1.9% to 107.47 billion CFA francs.

According to Moov Africa Burkina Faso, this financial underperformance is mainly due to the increase in energy prices, the rise in operating costs of sites in service, the maintenance and restoration efforts of vandalized sites, as well as the impact of the tax adjustment.

Operationally, Moov Africa Burkina saw its customer base increase by 5.3% to 12.04 million, notably supported by the overhaul of offers and prices, the modernization of mobile networks, access to optical fibre throughout the national territory, good coverage of fixed, mobile, internet networks, combined with the improvement of the quality of service and customer experience. Mobile Internet, broadband-FTTH, and mobile money customers increased by 7.8%, 193.5% and 16.1% respectively.

“Onatel intends to maintain its momentum for the rest of 2024 to finalize the deployment of its investment program planned for the year, improve the quality of services offered to customers, simplify the customer journey, and strengthen cost optimization actions to increase the company’s profitability,” said Onatel in a statement.