Airtel Africa's revenue rose by 28.2 per cent to $3.82 billion in the first half of its 2026/27 financial year, driven by strong growth in mobile data and mobile money services as its customer base expanded to nearly 194 million.
The growth highlights the increasing demand for internet connectivity and digital financial services across the company's African markets, where mobile phones are becoming an increasingly important channel for communication, business and financial transactions.
In its financial results for the six months ended September 30, 2026, the telecommunications group reported revenue of $3.823 billion, up from the corresponding period last year, representing 20.8 per cent growth after adjusting for currency movements.
The company's total customer base increased by 11.6 per cent to 193.9 million from 173.8 million a year earlier. Data customers rose by 15 per cent to 89.9 million, while Airtel Money users increased by 22.4 per cent to 60.9 million.
The growth was recorded across all its operating regions, with Nigeria leading at 27 per cent, followed by Francophone Africa at 19.2 per cent and East Africa at 18.2 per cent, measured in constant currency.
Airtel Africa chief executive officer Sunil Taldar said the performance reflected strong demand for telecommunications and financial services, alongside the group's continued investment in its operations.
"Over the first half we have delivered another strong operating and financial performance, reflecting the depth of underlying demand across our markets and consistent execution of our strategy, with total customer growth remaining strong and stable," he said in a statement issued on November 3, 2026.
Mobile services remained the group's biggest revenue contributor, generating $3.141 billion, an increase of 18.9 per cent in constant currency.
Data revenue grew by 28 per cent, while voice revenue increased by 11.1 per cent, reflecting the expanding use of mobile internet and telecommunications services.
The figures also point to rising internet consumption among customers. Smartphone penetration increased to 51.6 per cent, while average monthly data usage per smartphone customer rose to 13.3 gigabytes from 10.1GB in the same period last year.
Airtel Africa said the increase in consumption, combined with improvements in customer experience, helped raise data average revenue per user by 10.7 per cent in constant currency.
The expansion of mobile data services is particularly significant as businesses and individuals increasingly depend on internet connectivity for trade, communication, education and access to digital services.
Mobile money was another major growth driver, with Airtel Money revenue increasing by 25.8 per cent in constant currency.
The platform's customer base reached 60.9 million, while average revenue per user rose by 2.6 per cent to $2.5.
The annualised value of transactions processed reached $275 billion in the second quarter of the financial year, reflecting growing adoption of mobile financial services across the group's markets.
The expansion comes amid increasing reliance on mobile money for payments and other financial transactions, particularly in markets where mobile platforms provide an alternative channel for accessing financial services.
Beyond revenue growth, Airtel Africa reported improved profitability, with underlying earnings before interest, taxes, depreciation and amortisation (EBITDA) rising by 32.8 per cent in reported currency to $1.921 billion.
In constant currency, underlying EBITDA increased by 23.5 per cent, while the EBITDA margin improved by 172 basis points to 50.3 per cent.
Mr Taldar said the group had maintained strong margins despite inflationary pressures, particularly from rising fuel costs.
"Despite rising fuel costs continuing to exert inflationary pressure on our cost base, we delivered a record underlying EBITDA margin of 50.4 per cent in Q2'27 through a combination of operational discipline, ongoing cost efficiency programmes and continued scale benefits," he said.
Profit after tax increased to $452 million from $376 million in the corresponding period last year, while basic earnings per share rose to 10.2 US cents from 8.3 US cents.
The company also increased capital expenditure to $657 million, more than double the $318 million recorded in the previous corresponding period.
The investment is intended to expand network capacity, improve coverage and support growing demand for connectivity and digital services.
Operating free cash flow increased by 6.8 per cent to $972 million from $910 million, providing additional financial capacity to support the group's investment plans.
In a separate development, Airtel Africa's mobile money business has taken a major step towards establishing an independent investment profile following the listing of Airtel Mobile Commerce N.V. on the Main Market of the London Stock Exchange on October 14, 2026.
The company, which serves as the holding entity for Airtel Money, was listed through the sale of 270 million existing shares, representing 10 per cent of its issued share capital, at £1.96 ($2.63) per share.
The transaction involved existing minority shareholders and did not raise new capital for the business. Airtel Africa retained a 77.85 per cent stake, maintaining its significant ownership position.
Mr Taldar said the listing would support the mobile money business's long-term growth while allowing Airtel Africa to benefit from its future expansion.
"The recent IPO of Airtel Money represents a significant milestone for the Group. We retained our shareholding through the IPO and remain a long-term strategic shareholder, with significant exposure to Airtel Money's future growth and value creation," he said.
The listing gives Airtel Money an independently listed platform and greater visibility among international investors, as demand for digital financial services continues to expand across Africa.
Meanwhile, Airtel Africa's board approved an interim dividend of 3.1 US cents per ordinary share for the six months ended September 30, 2026.
The dividend is scheduled for payment on December 11, 2026, to shareholders registered by November 13, 2026.
The group also completed the first tranche of its share buy-back programme, repurchasing approximately 24.5 million shares at a cost of $108.7 million.
Mr Taldar said the group's strong balance sheet and cash generation, combined with growing demand for digital services, provided a basis for continued expansion.
"Supported by a strong balance sheet and robust cash generation, Airtel remains confident in the opportunities ahead. As more customers embrace digital services and financial inclusion, our continued focus on execution and customer experience positions us to deliver sustainable growth at scale and long-term value for shareholders," he said.