Airtel Africa has expressed fears that the ongoing reform of the Nigerian foreign exchange regime could impact its financials.
For a corporation that has already seen revenues taking a hit of $22 million and finance costs (excluding derivatives) spiking by $7 million from the dollar exchange rate before the reforms, new pressures from the push might affect performance in the short term.
In addition to the phasing out of the costly fuel subsidy regime, President Bola Tinubu has shown commitments to a policy reset in the nation’s forex market by closing the spread between the official and the parallel market rates.
