Airtel Africa profit soars 147% to $813M as Nigeria revenue jumps 47.5%, data becomes largest revenue driver

Mobile money transaction value hits $215 billion quarterly as customer base expands to 183.5 million in record year for telecom giant.

Airtel Africa plc has delivered a landmark financial performance for the fiscal year ended 31 March 2026, with profit after tax skyrocketing 147% to ** $813 mi ll i o n * *, u p f ro m$ 328 million in the previous year. The surge was driven by a 29.5% increase in reported revenue to $6.4 billion, fueled largely by a 47.5% revenue explosion in the Nigerian market following strategic tariff adjustments.

RELATED: Airtel Africa sparks NGX rebound as investors recover ₦1.09 trillion in single session

The company’s performance reflects strong operational execution, significant customer base expansion, disciplined capital allocation, and a definitive shift toward a data-centric business model across its 14 African markets.

Nigeria Leads the Charge as Data Becomes Primary Revenue Driver

Airtel Africa noted that the fiscal year was defined by a fundamental shift in how consumers interact with the network. Data revenues have become the largest component of Group revenue, growing by 35.2% in constant currency, which further lifted the firm’s performance.

Metric	Performance
Total Revenue	$6.4 billion (+29.5% reported)
Underlying EBITDA	$3.16 billion (+37.2%)
EBITDA Margin	49.3% (up from 46.5%)
Profit After Tax	$813 million (+147.4%)
Basic EPS	18.6 cents (up from 6.0 cents)

Strong Growth Across All Regions

Nigeria: Constant currency revenue growth of 47.5%
East Africa: Revenue growth of 17.8%
Francophone Africa: Revenue growth of 17.1%

Record Customer Acquisition and Digital Service Scaling

The company recorded its highest net customer additions in history, with the total customer base growing by 10.5% to 183.5 million.

Customer Metric	Performance
Total Customer Base	183.5 million (+10.5%)
Data Customers	84.2 million (+14.8%)
Average Data Usage	8.9 GB per month
Smartphone Penetration	Nearly 50% (91 million users)
Airtel Money Customers	54.1 million (+21.3%)
Annualised Transaction Value (Q4)	Over $215 billion

The mobile money ecosystem has evolved into a primary financial hub, handling an annualised transaction value exceeding $215 billion in the fourth quarter.

Infrastructure Expansion and Strategic Partnerships

Airtel Africa strengthened its network infrastructure during the year:

New sites rolled out: Over 3,250
Fibre network expansion: 3,200 km added
Total fibre network: 81,900 km

Key Strategic Development

The company announced a partnership with SpaceX to launch Starlink Direct-to-Cell satellite connectivity, aiming to bridge the digital divide in rural areas across its operating markets.

Management Commentary

“This year delivered a very strong performance across both operating and financial metrics, reflecting the attractive industry fundamentals and structural growth drivers across our footprint,” said Sunil Taldar, Chief Executive Officer of Airtel Africa.

Management highlighted the success of its cost efficiency programme and record EBITDA margins, while noting near-term margin pressure from rising energy costs.

“This backdrop, and the continued success of our strategy, contributed to our highest level of customer additions, revenue and EBITDA growth. Adoption of new digital technologies and AI has been pivotal in unlocking growth opportunities and driving efficiencies,” Taldar added.

Airtel Money IPO on the Horizon

The company reiterated its intention to proceed with the Airtel Money IPO in the second half of 2026, market conditions permitting. The mobile money platform continues its impressive growth trajectory, with customer base expanding by 21.3% to 54.1 million.

Investment Outlook and Capex Guidance

Airtel Africa is accelerating its investment to meet rising demand for digital services:

Item	Guidance
Capex FY2027	Approximately $1.1 billion
Investment Focus	Network coverage and capacity, home broadband (HBB), data centres

The strategy aims to scale digital infrastructure and reinforce the company’s market leadership across sub-Saharan Africa.

Risk Factors and Challenges

The company identified several principal risks that could impact future performance:

Competition: Aggressive competitive environment could pressure prices and profitability
Geopolitical and macroeconomic conditions: Global tensions and economic shifts may affect costs and customer disposable income
Cybersecurity threats: Increasing risk of data breaches and service downtime, particularly from AI-enabled attacks
Regulatory environment: Diverse legal environments expose the company to potential adverse policy changes
Currency fluctuations: Exposure to foreign exchange movements, particularly the Nigerian naira

Shareholder Returns

Reflecting its strong financial position, the Board has recommended a final dividend of 4.26 cents per share, bringing the total dividend for the full year to 7.1 cents per share – a 9.2% increase from the previous year. Additionally, the company completed its second share buyback programme, returning a total of $100 million to shareholders.

Indicative Share Trading Liquidity

Total indicative share trading liquidity for Airtel Africa Plc on the Nigerian Exchange in the past 12 months (as of 4 May 2026) was $1.61 mi ll i o n (NGN 2.01 bi ll i o n) * *, a v er a g in g * *$ 133,820 (NGN 167.19 million) per month.