Evan Tindell, CIO of Bireme Capital, joins Yet Another Value Podcast today to share his thesis on Airtel Africa Plc (LSE: AAF), a leading provider of telecommunications and mobile money services, with a presence in 14 countries in Africa, primarily in East Africa and Central and West Africa.
For more information about Bireme Capital, please visit: https://www.biremecapital.com/
Evan's Tweet thread on Airtel Africa: https://twitter.com/evantindell/status/1666503901229580291
Evan's blog post on his Airtel Africa thesis: https://www.biremecapital.com/cio-corner/airtel-africa
Chapters:
[0:00] Introduction + Episode sponsor: Stream by Alphasense
[1:57] What is Airtel Africa $AAF.L and why is it interesting?
[5:55] $AAF.L mobile money business
[11:17] Spin-off IPO of mobile money business
[12:47] $AAF.L risks
[15:53] $AAF.L current valuation[20:15] Currency risk
[24:04] $AAF.L Political risk / history of nationalization / tax on mobile payments
[34:20] $AAF.L business model risk (being the T-Mobile in their markets
[37:37] Airtel Africa vs. MTN Group
[40:23] $AAF.L controlling shareholder - Bharti Airtel
[45:47] Understanding emerging market economies and price sensitivity amongst consumers
[48:56] $AAF.L product diversification risk
[55:33] $AAF.L "no one cares" valuation risk
Today's episode is sponsored by: Stream by Alphasense
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