Digitnomics 
By Admin
Airtel Africa has confirmed plans to list its fast-growing mobile money business, Airtel Money, on the London Stock Exchange later in 2026, following a strong first-quarter performance driven by rising data usage, expanding mobile money adoption, and steady customer growth.
The telecommunications giant said London remains its preferred listing destination, a move expected to give Airtel Money access to a broader international investor base while unlocking the value of one of Africa’s largest digital financial services platforms.
Mobile money powers growth
Airtel Money emerged as the company’s biggest growth driver during the quarter ended June 30, 2026.
The platform’s annualised total processed transaction value (TPV) surged by 51.5% to more than $245 billion, while its customer base expanded by 23.3% year-on-year to 56.5 million users.
The service allows customers to make payments, transfer funds, and access digital financial services through their mobile phones, helping bridge the financial inclusion gap in many African countries.
The planned IPO is expected to position Airtel Money as a standalone fintech business and could become one of Africa’s biggest financial technology listings if completed.
Data business continues to surge
Airtel Africa’s core telecoms business also posted impressive growth during the quarter.
Its total customer base increased by 11.6% to 189 million, while data subscribers rose by 15.5% to 87.3 million.
Smartphone penetration climbed to 51%, compared to 45.8% a year earlier, driving higher internet usage across its markets.
Average monthly data consumption per customer increased from 7.8GB to 10.6GB, resulting in a 56.3% rise in total data traffic on Airtel’s network.
Data average revenue per user (ARPU) also grew by 10.3% in constant currency, reflecting increased demand for digital services.
Overall, mobile services revenue rose 19.1% in constant currency, with voice revenue increasing by 11.2% and data revenue jumping 27.2%.
Nigeria remained one of Airtel Africa’s strongest-performing markets, posting 29.8% revenue growth in constant currency, supported by previous tariff adjustments.
Revenue and profit improve
The company recorded quarterly revenue of $1.853 billion, representing a 31% increase in reported currency and 21.1% growth in constant currency.
EBITDA grew by 36.6% to $928 million, while the EBITDA margin improved to 50.1%.
Profit after tax rose to $198 million from $156 million recorded during the same period last year.
Despite foreign exchange losses and exceptional finance costs linked to a commercial dispute involving one of its subsidiaries, earnings per share increased from 3.4 cents to 4.4 cents.
Network expansion continues
To support growing demand for digital services, Airtel Africa significantly increased investment in network infrastructure.
Capital expenditure reached $389 million during the quarter, up from $121 million in the corresponding period last year.
The company added more than 920 new network sites—its highest first-quarter rollout—and expanded its fibre network to approximately 82,100 kilometres.
These investments are aimed at improving network quality, expanding coverage, and boosting capacity as demand for streaming, fintech, cloud computing, e-commerce, and other digital services continues to rise across Africa.
CEO highlights digital transformation
Airtel Africa Chief Executive Officer, Sunil Taldar, said the company remains focused on delivering a better customer experience through digital transformation.
According to him, Airtel is simplifying customer journeys, increasing digital adoption, and leveraging artificial intelligence and data analytics to improve service delivery while supporting long-term sustainable growth.
Looking ahead
Airtel Africa’s latest results reinforce its transition from a traditional telecom operator to a digital services company powered by connectivity, data, and financial technology.
If the planned London IPO goes ahead, Airtel Money could emerge as one of Africa’s largest publicly listed fintech companies, providing fresh capital to accelerate expansion while giving investors an opportunity to value the business independently from Airtel Africa’s telecom operations.
