Rivals Airtel and Millicom reported rapid increases in customer numbers using their mobile money brands during Q1, as growth in Africa continued unabated.

As the first major mobile money providers on the continent to book figures for the opening period of 2018, both highlighted the importance of the service as part of their wider offering.

During the quarter, Airtel Money’s base increased by 31 per cent year-on-year to 11.5 million customers, though this included 800,000 customers acquired alongside Millicom’s Tigo Rwanda business earlier this year.

Airtel Money is currently available in 14 countries across Africa including Nigeria, Kenya, Tanzania, Malawi, Uganda and Zambia. Its customers made close to 500 million transactions across its markets, up almost 35 per cent year-on-year, with a combined value of $5.6 billion compared with $3.9 billion in Q1 2017.

Likewise Millicom, which provides the service in Chad and Tanzania, recorded an 11 per cent year-on-year user base increase to 6.7 million by end-March. Its total mobile base in Africa was 14.9 million. Usage figures and transaction values were not provided by the company.