Airtel Africa Posts 31% Revenue Growth to $1.85bn in Q1 2027, Confirms London Listing Plan for Airtel Money

Airtel Africa Posts 31% Revenue Growth to $1.85bn in Q1 2027, Confirms London Listing Plan for Airtel Money

 Airtel Africa Plc has reported a strong start to its 2027 financial year, posting a 31 per cent increase in reported revenue to $1.853 billion for the quarter ended June 30, 2026, driven by robust growth in data services, mobile money and customer expansion across its 14 African markets. The telecommunications giant also confirmed London as its preferred listing venue for the planned initial public offering (IPO) of Airtel Money in 2026.

Airtel Africa Plc has announced a strong first-quarter performance for the financial year ending March 2027, recording significant growth in revenue, profitability and customer numbers as it continues to invest heavily in network expansion and digital services across Africa.

According to the company's financial results for the quarter ended June 30, 2026, reported revenue rose by 31.0 per cent to $1.853 billion from $1.415 billion in the corresponding period of 2025. On a constant currency basis, revenue increased by 21.1 per cent.

The company attributed the performance to sustained customer acquisition, increased smartphone adoption, rising data consumption and continued expansion of its Airtel Money platform.

Total customers grew by 11.6 per cent to 189 million, while data customers increased by 15.5 per cent to 87.3 million. Smartphone penetration reached 51.0 per cent, supporting a 56.3 per cent increase in data traffic across the network as monthly data usage per customer rose from 7.8GB to 10.6GB.

Mobile money also maintained strong momentum, with its customer base rising 23.3 per cent to 56.5 million. Annualised Total Processed Value (TPV) increased by 51.5 per cent to more than $245 billion, reflecting deeper financial inclusion and stronger customer engagement across Airtel Africa's markets.

Profitability improved significantly during the period, with reported EBITDA rising 36.6 per cent to $928 million, while EBITDA margin expanded to 50.1 per cent from 48.0 per cent a year earlier.

Profit after tax increased to $198 million from $156 million despite a $37 million exceptional finance cost arising from an in-principle settlement relating to a commercial dispute involving one of the Group's subsidiaries.

Basic earnings per share rose to 4.4 cents from 3.4 cents in the previous year, while earnings per share before exceptional items increased to 5.4 cents.

Nigeria remained Airtel Africa's fastest-growing market, recording constant currency revenue growth of 29.8 per cent and reported revenue growth of 50.4 per cent, benefiting from tariff adjustments implemented in late 2025 as well as appreciation of the naira.

In Nigeria, revenue reached $501 million while EBITDA increased 58.4 per cent to $293 million, with EBITDA margin improving to 58.6 per cent. The Nigerian customer base also expanded by 12 per cent to 60.1 million.

The company accelerated investments in network infrastructure during the quarter, spending $389 million in capital expenditure compared with $121 million in the same period last year.

More than 920 new network sites were deployed during the quarter—the highest first-quarter rollout in the company's history—while its fibre network expanded to over 82,100 kilometres to improve network quality, coverage and capacity.

Airtel Africa also strengthened its balance sheet, reducing leverage from 2.2x to 1.7x and lease-adjusted leverage from 0.9x to 0.5x, driven by stronger earnings.

The Board continued its shareholder return programme by approving a share buyback of up to one per cent of issued share capital. As of June 30, 2026, approximately 10.2 million shares had been repurchased for $46.6 million.

Commenting on the results, Chief Executive Officer Sunil Taldar said the company had started the financial year on a strong footing with accelerating growth across all business segments.

He said Airtel Africa's strategy of digitising operations, enhancing customer experience and leveraging data and artificial intelligence was delivering sustainable growth while improving operational efficiency.

Taldar also confirmed that London had been selected as the preferred listing venue for Airtel Money's proposed IPO, subject to regulatory approvals.

"We believe a London listing will provide access to a broad international investor base and support our ambition to unlock the long-term value of one of Africa's leading fintech platforms," he said.

He acknowledged that higher global energy prices resulting from geopolitical developments could increase inflationary pressures and weigh on margins in the near term but expressed confidence that ongoing cost-efficiency measures would help offset much of the impact.

The company also announced that its Nigerian subsidiary secured renewal of its 900MHz spectrum licence from the Nigerian Communications Commission for $37 million, extending the licence for another 10 years.

Airtel Africa operates telecommunications and mobile money services across 14 countries in sub-Saharan Africa, providing voice, data and financial services to millions of customers while pursuing its strategy of expanding digital connectivity and financial inclusion across the continent.