DATA AND MOBILE MONEY POWER AIRTEL AFRICA PROFIT SURGE AS EARNINGS MORE THAN DOUBLE

Airtel Africa Chief Executive Officer, Sunil Taldar.

Data usage and mobile money services powered a strong earnings surge for Airtel Africa, as the telecoms group posted record revenue and profit for the financial year ended 31 March 2026, reflecting accelerating digital adoption across its 14 African markets.

The company reported that net profit more than doubled to $813 million, up from $328 million a year earlier, supported by higher operating income and foreign exchange gains.

Revenue increased by 29.5% in reported currency to $6.42 billion, while constant currency growth stood at 24%, underscoring broad-based demand across its core operations across Africa.

Airtel Africa said the strong performance was driven primarily by rapid growth in data consumption and mobile financial services, which continue to reshape the company’s revenue mix and deepen customer engagement across the continent.

Chief Executive Officer Sunil Taldar said the results reflected strong operational fundamentals and disciplined execution, with digital adoption and network investment remaining central to the company’s long-term growth strategy.

“Our strategy delivered record customer additions, revenue and EBITDA growth,” Taldar said. “Data and mobile money remain key engines of expansion as we scale digital access across our footprint.”

The company’s customer base increased by 10.5% to 183.5 million, marking the highest net additions in Airtel Africa’s history.

Data subscribers rose by 14.8% to 84.2 million, while smartphone penetration climbed to 49.5%, supporting stronger usage trends and improved monetisation.

Average data consumption per user increased to 8.9 GB per month, compared to 7.0 GB in the previous year, helping data revenue grow by 35.2% in constant currency and making it the largest contributor to group revenue growth.

Mobile money services also continued to gain momentum, with Airtel Money customers rising by 21.3% to 54.1 million.

The company said transaction volumes and usage expanded significantly, with annualised total payment value increasing by 49% to more than $215 billion in the fourth quarter alone.

Mobile money revenue grew by 28.4% in constant currency, driven by increased adoption of digital payments, merchant services and cross-border transactions. Airtel said the segment continues to strengthen its position beyond traditional telecom services.

Underlying EBITDA rose by 30.4% in constant currency to $3.16 billion, with EBITDA margins expanding to 49.3%, supported by revenue growth and ongoing cost optimisation initiatives. Quarterly margins exceeded 50%, reflecting improved operational efficiency across the business.

Airtel Africa said improved scale in both data and mobile money helped offset inflationary pressures and currency volatility in several markets, particularly in Nigeria.

Operating profit increased by 45.1% to $2.12 billion, while earnings per share rose sharply to 18.6 cents from 6.0 cents a year earlier.

The company also accelerated investment in network infrastructure, with capital expenditure increasing by 31.9% to $884 million.

During the year, Airtel Africa added more than 3,250 new network sites and deployed an additional 3,200 kilometres of fibre infrastructure to strengthen connectivity and digital access.

The company plans to increase capital expenditure to approximately $1.1 billion in FY2027 to support further digital expansion across its markets.

Airtel Africa continued to invest heavily in next-generation connectivity, with 98.5% of its sites now 4G-enabled and more than 3,100 5G sites operational across six African markets.

Taldar said artificial intelligence and digitisation are also improving efficiency and customer experience across the business, including faster onboarding and enhanced service delivery through the MyAirtel application.

The MyAirtel app has increasingly become a central digital platform for the company, with transacting users rising by 74% year-on-year and digital transaction value increasing by 79% to $8.3 billion.

Airtel Africa also reported stronger cash generation, with operating cash flow rising by 41% to $3.20 billion and free cash flow increasing by nearly 40% to $2.28 billion.

Leverage improved significantly to 1.8 times from 2.3 times a year earlier, supported by higher earnings and stronger cash flow generation.

The board declared a final dividend of 4.26 cents per share, bringing total dividends for the year to 7.1 cents per share, representing an increase of 9.2%.

Looking ahead, Airtel Africa said it remains focused on scaling its digital ecosystem, particularly in mobile money, enterprise services and home broadband, as it positions itself for long-term growth across Africa’s underpenetrated telecom and financial services markets.

The company is also expanding strategic partnerships, including satellite connectivity collaboration with SpaceX through the Starlink Direct-to-Cell initiative aimed at extending coverage to remote and rural areas.

Taldar said Airtel Africa remains confident in its long-term growth outlook despite short-term cost pressures linked to rising energy prices and macroeconomic volatility.

“Our markets continue to offer significant opportunities for digital and financial inclusion,” he said. “We are focused on scaling responsibly while delivering long-term value.”