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 year ended 31 March 2026, reflecting accelerating digital adoption across its 14 markets in Africa.
The company reported that net profit more than doubled to $813
million from $328 million a year earlier, supported by higher operating income
and foreign exchange gains.
Revenue rose by 29.5% in reported currency to $6.42 billion, while
constant currency growth stood at 24%, underscoring broad-based demand across
its core markets.
Airtel Africa said the performance was driven primarily by rapid
growth in data consumption and mobile financial services, which continue to
reshape its revenue mix and deepen customer engagement across the continent.
Chief Executive Officer Sunil Taldar said the results reflected
“strong fundamentals and disciplined execution,” adding that digital adoption
and network investment were central to the company’s 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 its highest-ever net additions.
Data subscribers rose 14.8% to 84.2 million, while smartphone
penetration climbed to 49.5%, supporting stronger data usage and monetisation.
Data consumption per user increased to 8.9 GB per month, up from
7.0 GB in the prior year.
Data revenue rose by 35.2% in constant currency, making it the
largest contributor to group revenue growth.
Mobile money also delivered strong momentum, with Airtel Money
customers increasing by 21.3% to 54.1 million.
Transaction volumes and usage expanded significantly, with
annualised total payment value rising 49% to more than $215 billion in the
fourth quarter.
The company said mobile money revenue grew 28.4% in constant
currency, driven by increased adoption of digital payments, merchant services
and cross-border transactions. The segment continues to strengthen Airtel’s
position beyond traditional telecom services.
Underlying EBITDA rose by 30.4% in constant currency to $3.16
billion, with margins expanding to 49.3%, supported by revenue growth and
ongoing cost optimisation initiatives. Quarterly margins exceeded 50%,
reflecting improved operational efficiency.
Airtel said improved scale in data and mobile money helped offset
inflationary pressures and currency volatility in several markets, particularly
Nigeria.
Operating profit increased by 45.1% to $2.12 billion, while
earnings per share rose to 18.6 cents from 6.0 cents a year earlier.
Capital expenditure increased by 31.9% to $884 million as the
company expanded its network infrastructure, including more than 3,250 new
sites and 3,200 kilometres of additional fibre.
Airtel Africa plans to increase capex to about $1.1 billion in
FY2027 to support further digital expansion.
The company continued to invest heavily in 4G and 5G coverage,
with 98.5% of its sites now 4G-enabled and more than 3,100 5G sites operational
across six markets.
Taldar said artificial intelligence and digitisation are improving
efficiency and customer experience across the business, including faster
onboarding and enhanced service delivery through the MyAirtel app.
The app has become a central digital platform, with transacting
users rising 74% year-on-year and digital transaction value increasing 79% to
$8.3 billion.
Airtel Africa also benefited from stronger cash generation, with
operating cash flow rising 41% to $3.20 billion and free cash flow up nearly by
40% to $2.28 billion.
Leverage improved significantly to 1.8 times from 2.3 times a year
earlier, supported by higher earnings and cash flow.
The board declared a final dividend of 4.26 cents per share,
bringing total dividends for the year to 7.1 cents, an increase of 9.2%.
Airtel 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 in Africa’s underpenetrated telecom and
financial markets.
The company is also expanding strategic partnerships, including
satellite connectivity with SpaceX’s Starlink Direct-to-Cell initiative, aimed
at extending coverage to remote and rural areas.
Taldar said Airtel remains confident in its growth outlook despite
short-term cost pressures from rising energy prices, citing strong demand
trends and continued investment in efficiency.
“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.”
