Bireme Capital's Evan Tindell on growth tailwinds for African Telecom - Airtel Africa $AAF.L

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

Are traditional expert calls in the investment world becoming obsolete? According to Stream, they are, and you can access primary research easily and efficiently through their platform. With Stream, you'll have the right insights at your fingertips to make the best investment decisions. They offer a vast library of over 26,000 expert transcripts, powered by AI search technology. Plus, they provide competitive rates on expert call services, and you can even have an experienced buy-side analyst conduct the calls for you.

But that's not all. Stream also provides the ability to engage with experts 1-on-1 and get your calls transcribed free-of-charge—all for 40% less than you would pay for 20 calls in a traditional expert network model. So, if you're looking to optimize your research process and increase ROI on investment research spend, Stream has the solution for you. Head over to their website at streamrg.com to learn more. Thanks for listening, and we'll catch you next time. For more information: https://www.streamrg.com/