Airtel Africa plc has unveiled a robust financial performance for the nine-month period ended December 31, 2025, buoyed by a significant recovery in its largest market, Nigeria, and a record-breaking expansion of its mobile money ecosystem.
The telecommunications giant saw its profit after tax more than double to $586 million, a sharp climb from $248 million in the prior year, as a more stable operating environment and currency appreciation in key markets bolstered the bottom line.
Nigeria Leads Growth as Naira Stabilizes
In a striking turnaround for its Nigerian operations, reported currency revenue soared by 71% in the third quarter of 2026.
This growth was driven by a combination of tariff adjustments and a substantial appreciation of the Nigerian Naira, which moved from a weighted average of NGN/USD 1,627 in late 2024 to NGN/USD 1,456 in the current quarter.
“These results highlight the strength of our strategy, with strong operating and financial trends across the business,” stated Sunil Taldar, chief executive officer. “Coupling investment with innovative partnerships strengthens our customer proposition and positions us to capture the considerable growth opportunity across our markets”.
Nigeria’s data revenue alone surged by 65.4% in constant currency, reflecting a growing appetite for digital services as data usage per customer climbed to 10.7 GB per month. Smartphone penetration in the country also reached 54.1%, underscoring the success of Airtel’s device-centric strategy.
Airtel Money Hits 50 Million Milestone
The group’s financial services arm, Airtel Money, reached a historic milestone by surpassing 52 million subscribers, representing a 17.3% year-on-year increase.
Even more significant was the surge in transaction volume, with the annualized total processed value (TPV) crossing the $210 billion threshold, a 36% jump that reinforces Airtel’s role as a major driver of financial inclusion across the continent.
Management confirmed that the company remains on track for the highly anticipated listing of Airtel Money in the first half of 2026.
Strategic Investments and Satellite Partnerships
Airtel Africa continues to aggressively expand its infrastructure, reporting a 32.2% increase in capital expenditure to $603 million.
The group rolled out approximately 2,500 new sites and expanded its fiber network to over 81,500 kilometers to enhance coverage and capacity.
In a move to bridge the digital divide in rural areas, the company recently announced a landmark partnership with SpaceX.
Airtel Africa will become the first mobile operator on the continent to introduce Starlink Direct-to-Cell satellite connectivity, allowing customers with compatible handsets to access text and data services even in areas without traditional terrestrial coverage.
Operational Efficiency and Market Outlook
The group reported an EBITDA margin expansion to 48.9%, driven by disciplined cost-efficiency programs and strong revenue growth.
Operating profit grew by 41.3% to over $1.5 billion, while leverage improved to 1.9x from 2.4x a year ago.
Despite the positive momentum, industry authorities note that the group remains exposed to macroeconomic risks, including inflationary pressures and potential currency fluctuations.
However, with 95.2% of its operating company debt now held in local currencies, Airtel appears better positioned to weather future volatility than in previous cycles.
As the company enters the final quarter of its fiscal year, the focus remains clear: accelerating financial inclusion and leveraging new technologies like AI and satellite connectivity to unlock the immense demand across its 14-country footprint.
