Airtel Africa has reported a strong start to its 2027 financial year, posting double-digit growth across its mobile, data and mobile money businesses, driven by rising smartphone adoption, expanding digital financial services and continued investments in network infrastructure.
For the quarter ended 30 June 2026, the telecommunications and fintech group recorded 31.0% growth in reported revenue to $1.853 billion, supported by 21.1% constant currency growth and favourable foreign exchange movements across its markets.
The company continued to attract new customers, with its subscriber base growing 11.6% to 189 million, while data customers increased 15.5% to 87.3 million.
Data Consumption Continues to Surge
Growing smartphone adoption remained a major driver of digital usage, with smartphone penetration rising to 51%, up from 45.8% a year earlier.
As a result:
- Data usage per customer increased from 7.8GB to 10.6GB per month.
- Total data traffic grew by 56.3%.
- Constant currency data ARPU increased by 10.3%.
- Data revenue rose 27.2% in constant currency.
Voice services also maintained momentum, recording 11.2% constant currency growth.
Airtel Money Processes Over $245 Billion
Airtel Money continued its rapid expansion across Africa, reinforcing its position as one of the continent’s leading digital financial services platforms.
During the quarter:
- Annualised Total Processed Value (TPV) increased 51.5% to more than $245 billion.
- Airtel Money customers grew 23.3% to 56.5 million.
- Mobile money revenue increased 25.8% in constant currency.
The growth was supported by broader financial inclusion, increased customer engagement and expansion of digital payment services.
Profitability Improves
Airtel Africa reported:
- EBITDA of $928 million, up 36.6%.
- EBITDA margin improved to 50.1%, compared to 48.0% a year earlier.
- Operating profit increased 40.7% to $627 million.
- Profit after tax rose 27% to $198 million.
- Basic earnings per share increased from 3.4 cents to 4.4 cents.
The company said profit growth was partly offset by $6 million in foreign exchange and derivative losses, as well as a $37 million exceptional finance cost related to an in-principle settlement of a commercial dispute involving one of its subsidiaries.
Strong Growth Across Markets
All operating regions delivered double-digit revenue growth in constant currency:
- Nigeria: 29.8%
- East Africa: 17.8%
- Francophone Africa: 18.0%
According to Airtel Africa, Nigerian growth reflects the full impact of tariff adjustments implemented in the fourth quarter of 2025.
Investing for Future Growth
The company significantly accelerated investment in network infrastructure during the quarter.
Capital expenditure rose to $389 million, compared to $121 million in the same period last year.
Network expansion included:
- More than 920 new mobile sites, the company’s highest first-quarter rollout.
- Fibre network expansion to 82,100 kilometres.
Airtel Africa said the investments are aimed at improving network quality, increasing capacity and expanding coverage to support rising demand for digital services.
Stronger Balance Sheet
The company’s financial position also improved during the quarter.
Leverage declined from 2.2x to 1.7x, while lease-adjusted leverage improved from 0.9x to 0.5x, largely driven by stronger EBITDA generation.
The Board also approved a share buyback programme of up to 1% of issued share capital. By 30 June 2026, Airtel Africa had repurchased approximately 10.2 million shares worth $46.6 million.
Airtel Money London Listing Plans Remain on Track
Chief Executive Officer Sunil Taldar said the company continues to benefit from growing digital adoption, increased smartphone penetration and sustained investment in network infrastructure.
He confirmed that London remains the preferred listing venue for Airtel Money in 2026, saying the move is expected to provide access to a wider international investor base while unlocking long-term value for one of Africa’s fastest-growing fintech businesses.
Despite rising energy costs linked to geopolitical developments, Taldar said Airtel Africa expects its ongoing cost-efficiency programme to help cushion inflationary pressures while maintaining healthy profitability as it continues investing ahead of demand to capture Africa’s digital growth opportunities.
