News
2023 Financial Year Results
Bayobab Press
 

Reflecting on a year filled with remarkable growth, we've transitioned from MTN GlobalConnect to Bayobab. In this process, we've successfully incorporated the Bayobab fibre network and communication services into a robust ecosystem. This change guarantees a secure and extensive digital network that reaches across and beyond Africa, catering to a wide array of clients such as service providers, mobile networks, telecommunication companies, and major technology firms.

In 2023, Bayobab celebrated an 8.1% increase in external revenue, reaching an impressive US$378.6 million. A notable 9.2% growth in the Bayobab Communication Platforms segment was largely driven by our strategic Application-to-Person SMS partnerships. Our collaboration with leading global mobile networks has led to the launch of over 6,800 roaming services, significantly enhancing the international roaming experience for MTN subscribers across Africa.

Furthermore, Bayobab has proudly become the first Telecom WhatsApp Business Solution Provider in Africa, marking a major milestone in digital communication services. Our Bayobab Fibre segment maintained stable performance with new fixed connectivity deals worth US$24.4 million. The year saw us rolling out around 7,000 km of new fibre, expanding our total proprietary fibre network to 114,000 km.

Bayobab's expansion continued with the incorporation of 9 dedicated fibre companies, armed with the essential licenses for operation. New fibre operating licenses were acquired in key markets like Uganda, Cote D’Ivoire, and CAR. The acquisition of MTN Zambia's fibre network through a sale-and-leaseback deal marked an important milestone in structural separation of fibre assets under our Ambition 2025 initiative. We also fortified our network with specialised routes, particularly the East to West Africa corridor, enhancing terrestrial fibre connectivity for the countries along this path. Our year concluded with the successful landing of the 2Africa subsea cable in Ghana and Nigeria, further solidifying our commitment to connecting Africa to the world. .

As we look forward to 2024, Bayobab remains dedicated to driving digital transformation and connectivity across the African continent and beyond. Here's to more growth, innovation, and connectivity! .

 
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