AIRTEL AFRICA Q1 REVENUE SURGES TO $1.85 BILLION AS DATA AND MOBILE MONEY DRIVE GROWTH

Airtel Africa Chief Executive Officer, Sunil Taldar.

July 24, 2026 – Airtel Africa has delivered a strong start to its 2026/27 financial year, reporting a 31 percent increase in first-quarter revenue to US$1.853 billion, driven by sustained demand for mobile data, digital financial services, and continued investment in network expansion across its 14 African markets, including Tanzania.

The telecommunications and digital services provider also recorded a 27 percent increase in profit after tax, reaching US$198 million for the quarter ended June 30, 2026, compared to the same period last year. Revenue in constant currency grew by 21.1 percent, reflecting broad-based growth across voice, data and mobile money services.

Customer Growth Continues

Airtel Africa's customer base expanded by 11.6 percent to 189 million subscribers, while data customers increased by 15.5 percent to 87.3 million. Mobile money users also recorded robust growth, rising 23.3 percent to 56.5 million, highlighting the continued adoption of digital financial services across the continent.

The company attributed the strong performance to increasing smartphone adoption and higher customer engagement with digital services. Smartphone penetration reached 51 percent, while average monthly data usage per customer climbed from 7.8GB to 10.6GB, resulting in a 56.3 percent increase in overall data traffic over the past year.

Airtel Money Maintains Strong Momentum

Digital financial services remained one of Airtel Africa's fastest-growing business segments during the quarter.

The company reported that the annualised transaction value processed through Airtel Money exceeded US$245 billion, representing a 51.5 percent increase compared to the previous year. Revenue from mobile money services rose by 38.9 percent to US$404 million, underscoring the growing importance of financial technology within the group's overall business strategy.

Network Investment Supports Future Growth

To meet rising customer demand, Airtel Africa significantly accelerated capital expenditure during the quarter, investing US$389 million in network expansion.

The company deployed more than 920 new network sites—its highest first-quarter rollout on record—and expanded its fibre network to 82,100 kilometres, strengthening network coverage, capacity and service quality across its operating markets.

Profitability Remains Strong

Despite increased investment in network infrastructure, Airtel Africa continued to strengthen its financial performance.

EBITDA increased by 36.6 percent to US$928 million, while the EBITDA margin improved to 50.1 percent. Net cash generated from operating activities also grew 38.3 percent to US$786 million, demonstrating resilient operational performance despite higher energy costs.

CEO Highlights Digital Transformation

Commenting on the results, Airtel Africa Chief Executive Officer Sunil Taldar said the company had begun the new financial year on a strong footing, supported by higher smartphone adoption, stronger digital engagement and continued investment in network infrastructure.

According to Taldar, these strategic investments continue to enhance customer experience while positioning the business for sustained long-term growth across its African markets.

Airtel Money London Listing Remains on Track

Looking ahead, Airtel Africa confirmed that it continues preparations for a London Stock Exchange listing of Airtel Money, subject to regulatory approvals.

The proposed listing forms part of the company's long-term strategy to unlock shareholder value while broadening access to international investors and supporting the continued growth of its digital financial services business.

Outlook

The first-quarter results reinforce Airtel Africa's position as one of Africa's fastest-growing telecommunications and fintech companies. With continued investment in digital infrastructure, expanding smartphone penetration, and rapid growth in Airtel Money services, the company appears well-positioned to sustain its growth trajectory while capitalising on increasing demand for connectivity and digital financial solutions across the continent.