Quick View: Naira Devaluation Weighing On Microsoft Developments, Airtel Africa’s Bottom-Line Also Suffers
Telecommunications / Nigeria / Fri 10 May, 2024
Latest Development: The Naira's volatility has caused Airtel Africa to report a loss (after tax) of USD89mn y-o-y at the end of Q124, thereby diminishing investor confidence in Nigerian financial inflows. Additionally, Microsoft's decision to either terminate or downsize its African Development Centre (ADC) in Lagos serves to underscore our bearish