Telecommunications group Airtel Africa reported a sharp rise in annual profit on Friday, driven by strong growth in data usage and mobile money services across its African markets.
The company, which operates in 14 African countries including its biggest market Nigeria, said net profit surged 147.4 percent year-on-year as revenue climbed to US$6.4 billion from US$5 billion.
The strong performance reflects growing demand for digital services, expanding smartphone adoption and increased use of mobile financial platforms across the continent.
Data services remained Airtel Africa’s largest source of income, underpinning the company’s revenue growth during the financial year.
Its mobile money business also posted strong gains, generating US$1.4 billion in revenue — more than one-third higher than the previous year — supported by rapid expansion in East Africa and Francophone African markets.
Operating profit rose 45.1 percent to US$2.1 billion, while the group’s underlying EBITDA margin improved to 49.3 percent from 46.5 percent a year earlier.
Profit before tax increased by 114.5 percent to $1.4 billion, while profit after tax reached $813 million compared with US$328 million in the previous reporting period.
Chief executive Sunil Taldar said the company’s investment in digital technologies and artificial intelligence had contributed significantly to operational efficiency and customer growth.
“Adoption of new digital technologies and AI has been pivotal in unlocking growth opportunities and driving efficiencies,” Taldar said in the company’s earnings statement.
He said technology upgrades had improved network optimisation, customer onboarding and digital self-service platforms.
The company also reported a 22 percent increase in smartphone users to 91 million customers, helping drive a near 50 percent rise in data traffic during the year.
Analysts say the results highlight the continued expansion of Africa’s digital economy despite broader global economic uncertainty.
Mobile internet usage and digital payments have grown rapidly across the continent as telecom operators expand coverage and financial technology services gain popularity among younger populations and previously unbanked consumers.
Airtel Africa has increasingly focused on mobile money services as a major growth engine.
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Its Airtel Money platform allows users to transfer funds, make payments and access financial services through mobile phones, particularly in areas with limited traditional banking infrastructure.
The company has previously announced plans to separate its mobile money business from its core telecommunications operations through a potential stock market listing.
The proposed initial public offering, initially expected earlier this year, has been delayed amid market volatility linked partly to geopolitical tensions in the Middle East.
Airtel Africa said it still intends to pursue the listing during the second half of 2026, depending on market conditions.
The flotation could reportedly raise between $1.5 billion and $2 billion through a potential listing on the London Stock Exchange.
The company has also been expanding investment in connectivity infrastructure and emerging technologies.
Last December, Airtel Africa announced a partnership with SpaceX to deploy Starlink Direct-to-Cell satellite connectivity services across its markets.
The service is expected to support messaging and selected data services in remote areas lacking terrestrial mobile coverage, with future upgrades aimed at enabling broader high-speed satellite connectivity.
Industry analysts say satellite partnerships could help telecom operators extend services to underserved rural regions where traditional infrastructure remains costly or difficult to deploy.
Airtel Africa’s total assets rose to US$14 billion during the year, up from US$12 billion previously.
The company’s shares have attracted growing investor attention as African telecom operators increasingly position themselves not only as communications providers but also as key players in digital finance and technology infrastructure across emerging markets.
