As it reported an 87 per cent increase in its full year net profit, India’s largest mobile operator Bharti Airtel claimed its mobile money service is “gaining acceptance across Africa”, where it is present in 17 countries.

It added that the Airtel Money customer base increased from 3.5 million in the corresponding quarter (Jan-March) last year to 6.2 million in the 2015 period; growth of 76.4 per cent.

The total number of transactions on Airtel Money during the quarter grew by 72.2 per cent to 156.8 million while the total value of transactions grew by 31.4 per cent to $2.9 billion, the company said.

It is worth noting that the operator has a total customer base of 313 million across 20 countries and the take-up of money services still has a long way to go, according to a recent report.

The company’s MD and CEO for Africa, Christian de Faria, said Airtel Africa grew revenues by 7.5 per cent in constant currency terms during FY14-15 amidst tough economic conditions.

Last month, Airtel Money in Burkina Faso partnered with Orange Money in Côte d’Ivoire so that customers of both competing services can use their mobile phones to send money to each other.

On the subject of Orange, the operator also this week announced financial results that included an update on its money service. The company said it now has 13.3 million Orange Money customers (48 per cent year-on-year growth) in Africa and an objective to reach 30 million by 2018.