Airtel Africa has reported a solid performance for the half year ended September 30, 2025, underscoring the telecommunications group’s sustained execution of its customer-centric strategy, rising demand for digital services, and ongoing expansion of financial inclusion through Airtel Money.
The company’s results showed broad-based growth across its mobile and fintech operations, driven by strong customer acquisition, expanding data consumption, and a firm focus on innovation and efficiency.
Customer Growth and Digital Expansion
Airtel Africa’s total customer base climbed 11% year-on-year to 173.8 million, with data subscribers surging 18.4% to 78.1 million.
Smartphone penetration reached 46.8%, up by 3.8 percentage points, reflecting Africa’s growing appetite for mobile internet and digital services.
Data traffic across the network grew by an impressive 45%, pushing data average revenue per user (ARPU) up by 16.8% in constant currency. The company credited this momentum to ongoing network investments and the rising adoption of the MyAirtel app, which is central to its digital engagement strategy.
Airtel Money: Deepening Financial Inclusion
Airtel Money, the group’s mobile money arm, continues to play a pivotal role in advancing digital and financial inclusion across its markets. The platform’s customer base grew 20% to 49.8 million, while annualised total processed value (TPV) for Q2’26 surged 35.9% to $193 billion.
The fintech unit also delivered an 11% rise in ARPU (constant currency), driven by higher transaction volumes and enhanced customer engagement. Airtel confirmed that preparations for the Airtel Money IPO remain on track, with a listing planned for the first half of 2026.
Network Investment and Reach
To support this growth, Airtel Africa expanded its network capacity and coverage, rolling out 2,350 new sites during the period to bring its total to over 38,300 sites, while extending its fibre footprint by about 4,000 kilometres to 81,000 kilometres.
The company’s population coverage improved to 81.5%, with 98.5% of its sites now 4G-enabled — a key enabler for faster data services and digital innovation across its markets.
Financial Performance: Data Surpasses Voice
Group revenue rose 24.5% in constant currency (and 25.8% in reported terms) to $2.98 billion, boosted by strong growth across mobile services and mobile money. In Q2 alone, currency appreciation helped lift reported revenue growth to 29.1%, outpacing constant currency growth of 24.2%.
Mobile services revenue grew 23.1%, with data revenue jumping 37% to $1.16 billion, surpassing voice revenue for the first time in Airtel Africa’s history, a milestone reflecting the shift toward digital consumption across its markets.
Mobile money revenue grew 30.2%, further strengthening Airtel’s position in Africa’s booming digital payments landscape.
Earnings before interest, tax, depreciation, and amortisation (EBITDA) rose 33.2% to $1.45 billion, with margins improving to 48.5%, compared to 45.8% in the prior year.
Profit after tax soared to $376 million, up from $79 million a year earlier, aided by naira and CFA franc appreciation as well as derivative gains.
Basic earnings per share climbed to 8.3 cents, up from 0.8 cents in the prior year, while EPS before exceptional items rose from 4.9 cents to 8.3 cents.
Strengthened Balance Sheet and Capital Allocation
Airtel Africa maintained disciplined capital allocation during the period, with capex of $318 million in line with the prior year. The company has, however, increased full-year capex guidance to between $875 million and $900 million to accelerate network expansion and digital capacity.
Its debt localisation programme also continued to yield results, with 95% of its operating company debt now denominated in local currencies, up from 89% a year earlier. Leverage improved to 2.1x (from 2.3x) and lease-adjusted leverage to 0.8x (from 1.0x).
In line with its progressive dividend policy, the Board declared an interim dividend of 2.84 cents per share, representing a 9.2% increase, while the ongoing $100 million share buyback programme remains on track for completion by March 2026.
CEO’s Outlook: Investing in Africa’s Digital Future
Commenting on the results, Sunil Taldar, chief executive officer of Airtel Africa, said the strong performance demonstrates the effectiveness of the company’s strategy and commitment to deepening digital and financial inclusion.
“Our strategy has been focused on providing a superior customer experience, and the strength of these results is testament to the initiatives we’ve implemented across the business,” he said.
“The increase in smartphone penetration to 46.8% reflects the substantial demand for data services across our markets but also highlights the scale of the opportunity to further develop the digital economy. Airtel Money continues to gain momentum, with annualised processed value approaching $200 billion.”
Taldar added that the robust performance and margin expansion give Airtel Africa confidence to “accelerate investments and capture the full potential” of its markets.
Summary:
Airtel Africa’s half-year 2026 performance underscores its position as a leading player in Africa’s telecoms and digital finance sectors, fuelled by rapid data growth, expanding digital ecosystems, and a deepening commitment to financial inclusion.
