Airtel Africa Plc has delivered strong financial results for the first half of the 2026/2027 financial year, recording significant growth in revenue, profitability and customer numbers amid increasing demand for mobile connectivity and digital financial services across Africa.
The telecommunications group reported revenue of US$3.823 billion for the half year ended September 30, 2026, representing a 28.2% increase compared to US$2.982 billion recorded during the corresponding period in 2025.
On a constant currency basis, revenue grew by 20.8%, highlighting the continued expansion of the company’s telecommunications and financial technology businesses.
Profit after tax increased by 20.5% to US$452 million, up from US$376 million in the previous year. Operating profit also rose by 34.2% to US$1.286 billion, while underlying EBITDA increased by 23.5% in constant currency to US$1.921 billion.
The results reflect sustained growth across Airtel Africa’s three operating regions: Nigeria, East Africa and Francophone Africa.
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Nigeria, East Africa and Francophone Africa Drive Revenue Growth
Airtel Africa recorded positive revenue growth across all its geographical regions, supported by increasing demand for mobile data, digital connectivity and financial services.
Nigeria delivered 27% revenue growth in constant currency, maintaining its position as a major contributor to the group’s overall performance.
East Africa recorded revenue growth of 18.2%, while Francophone Africa achieved 19.2% growth during the reporting period.
The regional performance demonstrates the expanding demand for affordable telecommunications and digital financial services across the African continent.
Data Revenue Grows 28% as Smartphone Adoption Accelerates
Data services remained one of the biggest drivers of Airtel Africa’s financial performance.
Data revenue increased by 28% in constant currency to US$1.57 billion, accounting for approximately half of the group’s total mobile services revenue.
The growth was supported by a 15% increase in the data customer base to 89.9 million subscribers, alongside rising smartphone adoption and increased consumption of mobile internet services.
Smartphone penetration across the group’s network reached 51.6%, while average smartphone data usage per customer increased to 13.3GB per month, compared to 10.1GB in the corresponding period last year.
The figures highlight the growing importance of mobile internet connectivity as more African consumers embrace digital platforms, online services, streaming and mobile-based business solutions.
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Airtel Money Revenue Climbs 26% to $840 Million
Airtel Africa’s mobile money business continued to record strong growth, reinforcing its position as an important driver of financial inclusion across its markets.
Mobile money revenue increased by 25.8% in constant currency to US$840 million, supported by expanding customer numbers, increased transaction volumes and the growing adoption of digital financial services.
The mobile money customer base grew by 22.4% to 60.9 million.
Meanwhile, the annualised total processed transaction value reached US$275 billion in the second quarter, representing growth of 36.5%.
The performance reflects increasing consumer and business reliance on mobile money platforms for payments, transfers and other financial transactions.
Airtel Africa continues to expand its mobile money ecosystem through wider distribution networks, digital innovation and the introduction of additional financial services.
Airtel Africa Customer Base Reaches 193.9 Million
The group’s total customer base increased by 11.6% to 193.9 million during the six-month reporting period.
The increase reflects sustained demand for mobile telecommunications and digital financial services across Airtel Africa’s 14 operating markets.
The company is also investing in network capacity, service quality and digital infrastructure to accommodate growing data consumption and improve customer experience.
Airtel Africa CEO Highlights Growth Opportunities and AI Investment
Commenting on the financial results, Airtel Africa Chief Executive Officer Sunil Taldar said the company had delivered another strong operating and financial performance, reflecting sustained demand across its markets and consistent execution of its growth strategy.
Taldar highlighted the recent initial public offering (IPO) of Airtel Money as a significant milestone for the group, noting that Airtel Africa retained its shareholding and remains a long-term strategic investor in the business.
He said the group’s investment prospects remain supported by favourable demographic and economic trends, increasing demand for mobile data and financial services, and continued smartphone adoption.
The CEO also highlighted the growing use of artificial intelligence (AI) across the business to improve customer understanding, accelerate innovation, simplify customer journeys and strengthen fraud detection.
According to Taldar, these investments are helping the company develop new business opportunities while strengthening its existing telecommunications and financial services operations.
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Airtel Africa Records EBITDA Margin of 50.4% in Q2
Despite rising fuel costs and inflationary pressures, Airtel Africa continued to improve operational efficiency and profitability.
The company reported a record underlying EBITDA margin of 50.4% in the second quarter, supported by cost efficiency programmes, operational discipline and economies of scale.
For the six-month reporting period, underlying EBITDA reached US$1.921 billion, representing a 32.8% increase in reported currency and 23.5% growth in constant currency.
The group’s underlying EBITDA margin stood at 50.3%, compared to 48.5% in the corresponding period last year.
Taldar acknowledged that future margin performance would remain influenced by macroeconomic conditions, particularly fluctuations in fuel costs.
However, he said the company remained focused on improving operational efficiency while accelerating investments in network infrastructure.
Airtel Africa Accelerates Network Investment
Airtel Africa increased the pace of network investment during the first half of the financial year to expand capacity, improve service quality and position the business to benefit from growing demand for connectivity.
The investment strategy is focused on strengthening network infrastructure while supporting the increasing number of customers using smartphones and data-intensive digital services.
The company believes that continued investment in telecommunications infrastructure will be critical to capturing future growth opportunities across its African markets.
Its mobile services and mobile money businesses will also continue working together to identify shared opportunities, improve operational synergies and deliver greater value to customers.
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Airtel Africa Financial Performance: Key Highlights
For the six months ended September 30, 2026, the group reported the following financial results:
| Financial indicator | September 2026 | September 2025 | Growth |
|---|---|---|---|
| Revenue | US$3.823bn | US$2.982bn | 28.2% |
| Operating profit | US$1.286bn | US$959m | 34.2% |
| Profit after tax | US$452m | US$376m | 20.5% |
| Basic EPS | 10.2 cents | 8.3 cents | 23.3% |
| Operating cash generated | US$1.759bn | US$1.388bn | 26.7% |
| Underlying EBITDA | US$1.921bn | US$1.447bn | 32.8% |
Additional operational highlights included:
- Data revenue grew by 28% in constant currency to US$1.57 billion.
- Mobile money revenue increased by 25.8% in constant currency to US$840 million.
- Total customer numbers rose by 11.6% to 193.9 million.
- Data customers increased by 15% to 89.9 million.
- Mobile money customers grew by 22.4% to 60.9 million.
- Annualised mobile money transaction value reached US$275 billion.
- Underlying EBITDA margin improved to 50.3% for the half year.
- Strong Cash Generation Supports Airtel Africa’s Growth Strategy
Airtel Africa’s financial position was further supported by improved cash generation.
Net cash generated from operating activities increased by 26.7% to US$1.759 billion, compared to US$1.388 billion in the previous corresponding period.
Operating free cash flow also grew by 12% to US$1.264 billion, from US$1.129 billion a year earlier.
The strong cash generation provides financial support for the group’s continued investment in network expansion, digital services and operational improvements.
Taldar said the company remained confident in its long-term growth prospects, supported by a strong balance sheet, robust cash generation and increasing demand for digital connectivity and financial inclusion.
Outlook: Airtel Africa Targets Long-Term Growth Across African Markets
Looking ahead, Airtel Africa expects to benefit from the continued expansion of mobile internet adoption, smartphone penetration and digital financial services across its markets.
The company’s strategy centres on expanding network capacity, improving customer experience, growing its mobile money ecosystem and leveraging emerging technologies such as artificial intelligence.
With a customer base approaching 200 million and significant opportunities for further smartphone and data adoption, Airtel Africa is positioning itself to capture a larger share of Africa’s growing digital economy.
The latest results underscore the increasing importance of telecommunications and mobile financial services in supporting economic activity, financial inclusion and digital transformation across the continent.
