Airtel Africa today reported a robust performance for the financial year ended March 31, 2025, with surging smartphone use, mobile data growth and expanding Airtel Money services, as the telecoms group continues betting big on digital inclusion across its 14-country African footprint.
The telecoms and mobile money giant, which owns Airtel Nigeria, is growing its customer base by 8.7% to 166.1 million, with smartphone penetration climbing 4.3 percentage points to reach 44.8%, highlighting rising internet adoption across key markets like Nigeria.
Sunil Taldar, Chief Executive Officer of Airtel Africa, says the telecoms group’s strategy is “continuing to deliver against the significant opportunity that exists across our markets,” with Nigeria playing a pivotal role in the company’s expansion and earnings rebound.
At Q1 2025 when Nigeria’s telecoms market peaked at 172,708,410 active phone lines and 141,541,831 and 103,478,089 internet and broadband subscriptions respectively, Airtel Nigeria, the local business unit of Airtel Africa, retained its number two market position according to official data reviewed by Technology Times.
The telecoms and mobile money giant, which owns Airtel Nigeria, is growing its customer base by 8.7% to 166.1 million, with smartphone penetration climbing 4.3 percentage points to reach 44.8%, highlighting rising internet adoption across key markets like Nigeria.
Airtel Africa CEO: Nigeria Nigeria playing pivotal role in our expansion and earnings rebound
“We have reported another strong operating performance,” Taldar says. “This has enabled increased digital inclusion with a further 20% growth in our smartphone customers to 74.4 million, contributing to a 47.5% increase in data traffic over the year.”
For Nigerian telecoms consumers, these figures underscore the operator’s push to bring more affordable mobile data and fintech services amid ongoing digital transformation efforts in Africa’s biggest market.
Data subscribers are rising 14.1% to 73.4 million across the group, with each user consuming an average of 7.0 GB monthly—up by 30.4% from last year. This surge is fuelling a 15.4% jump in data revenue per user, measured in constant currency.
Airtel’s financial performance is reflecting this momentum, especially in Nigeria where recent tariff adjustments are helping to boost revenue. Group revenues are growing by 21.1% in constant currency to $4.96 billion, although dipping 0.5% in reported terms due to foreign exchange pressures.
In the fourth quarter alone, revenues are accelerating by 23.2% in constant currency and 17.8% in reported currency, as “currency headwinds ease,” the company says.
Taldar confirms that the Nigerian market is making a comeback: “An improving operating environment and focused execution contributed to strong momentum in our financial results… Part of this acceleration in the last quarter has also been driven by the Nigerian tariff adjustments.”
Taldar confirms that the Nigerian market is making a comeback: “An improving operating environment and focused execution contributed to strong momentum in our financial results… Part of this acceleration in the last quarter has also been driven by the Nigerian tariff adjustments.”
Mobile money is also powering forward, with subscribers jumping 17.3% to 44.6 million and transaction values up 34% in the final quarter—translating to an annualised value of $145 billion.
“Airtel Money continues to support financial inclusion… with an expanding ecosystem underpinning the $136 billion transaction value, which increased 32% in constant currency,” Taldar notes.
Despite economic pressures, Airtel Africa is maintaining strong underlying profitability. Earnings before interest, tax, depreciation and amortisation (EBITDA) stand at $2.3 billion, with margins expanding steadily throughout the year—rising from 45.3% in Q1 to 47.3% in Q4.
Profit after tax hits $328 million, reversing a $89 million loss in the previous year, largely due to a decline in foreign exchange and derivative losses, especially in Nigeria.
The Group’s capex of $670 million falls short of guidance due to delayed data centre investments. However, plans are underway to invest between $725 million and $750 million in the coming year to boost network growth and digital infrastructure.
Meanwhile, Airtel Africa is repaying debt aggressively—paying down $702 million in foreign currency loans—and shifting most of its obligations to local currency to shield itself from forex volatility. Today, 93% of its operating company debt is in local currency, up from 83% a year earlier.
Shareholders are also cashing in as Airtel Africa’s board recommends a final dividend of 3.9 cents per share, bringing total dividends to 6.5 cents—up 9.2% year-on-year. Additionally, $120 million is returned to shareholders through share buybacks.
Looking ahead, Taldar says preparations for the much-anticipated Airtel Money IPO are progressing: “We remain committed to this objective… subject to market conditions, we anticipate a listing event in the first half of calendar year 2026.”
As Nigeria and the broader region navigate inflation and regulatory reforms, Airtel Africa is reaffirming its role as a key enabler of digital and financial inclusion, aiming to transform lives and support economic prosperity.
“We will remain focused on delivering our strategy to transform the lives of our customers,” Taldar says, “and support economic prosperity across our markets.”
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