Airtel Nigeria has appointed Dinesh Balsingh as its Chief Executive Officer and Managing Director. According to the telecoms company, the new appointment has been effective since November 1, 2024. Balsingh, who previously served as Airtel Tanzania CEO since 2022 succeeds Carl Cruz after he resigned from the position in October to make a return to the Philippines.
A statement signed by the Director of Corporate Communications and CSR of Airtel Nigeria, Femi Adeniran, expressed that the new CEO has a wide variety of experience.
“Balsingh has extensive experience across the telecommunications industry and returns to Nigeria following his appointment as Managing Director and CEO of Airtel Tanzania in 2022. Before his move to Tanzania, he served as the Chief Commercial Officer at Airtel Nigeria and therefore brings with him considerable experience of the Nigerian telecommunications market,” the statement reads.
According to the company, Balsingh joined Airtel Nigeria in 2013 as Marketing Director after serving in key leadership positions at Airtel India and Tata Docomo.
Reacting to the leadership change in its Nigerian subsidiary, Airtel Africa Chief Executive Officer Sunil Taldar affirmed the new CEO’s ability to drive the pace of telecommunications in Nigeria.
“Balsingh’s deep telecommunications experience and strong operational execution, combined with his knowledge of the Nigerian market, will be instrumental in further supporting our corporate purpose of transforming lives across Nigeria,” he said.
Dinesh Balsingh’s brings a wide range of experience
Dinesh Balsingh’s career in the telecommunications sector began in 2000 with Hutchison Essar, followed by roles at Airtel India as Marketing Director in 2006 and Tata Docomo in 2011.
He joined Airtel Nigeria as Marketing Director in 2013 and was appointed Chief Commercial Officer (CCO) of Airtel Nigeria in 2018. He later rose to the position of Airtel Tanzania Managing Director and CEO in 2022.
Balsingh holds a Master of Business Administration from Thiagarajar School of Management, a credential that complements his extensive industry expertise.
According to Airtel, Dinesh Balsingh brings over 24 years of extensive experience in the telecommunications industry. He will be succeeding Carl Cruz, who was named the helmsman at Airtel Nigeria in May 2023, thus spending 17 months in that position.
Airtel Nigeria’s latest financial cycle
In its half-year 2024 report, Airtel Africa reported a 19.9% increase in revenue in constant currency despite a 9.7% decline in reported currency due to exchange rate challenges. It also recorded a customer base expansion of 6.1% to 156.6 million and a rise in mobile money penetration.
The company attributes this growth to an expanded customer base and increased data usage, with a 10.4% increase in data customers to 66 million. Data consumption per user rose by over 30%, emphasizing the region’s growing reliance on mobile data.
Airtel Nigeria, which is the second-largest telecom operator in Nigeria behind MTN, showed a rise in data usage with a 44.4% increase in constant currency revenue. This was driven by both the expanding customer base and data consumption. Voice services also showed resilience with a 23.0% increase in constant currency, despite regulatory restrictions requiring compliance with SIM registration mandates.
Meanwhile, Airtel Nigeria experienced the most significant currency-related impact, with a reported 44.3% revenue decline in dollars, but constant currency growth of 35.6%. This divergence highlights the steep depreciation of the naira, which has affected both earnings and operational costs.
A primary challenge has been a 90% surge in diesel prices, which, coupled with currency issues, impacted the EBITDA margin, down by 5.3%. However, Airtel’s cost management program is gradually offsetting this, with margins improving from Q1 to Q2.
As of September 2024, data from the Nigerian Communications Commission (NCC) shows that Airtel Nigeria has 53.7 million active subscriptions and 44.7 million internet customers. The company is one of the three telecom operators in Nigeria that have launched 5G to enhance internet speed.
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