Airtel Africa Plc, the pan-African telecommunications group and a subsidiary of Bharti Airtel, led by Indian billionaire Sunil Bharti Mittal, reported a 20.21% increase in profit after tax to $452 million for the first half of its 2026 financial year, up from $376 million a year earlier. The growth reflected stronger underlying operating performance, despite higher finance costs and weaker foreign exchange and derivative gains during the period.

Profit for the six months ended September 30, 2026, included $55 million in exceptional items related to an in-principle settlement involving one of the group’s subsidiaries and expenses associated with the Airtel Money initial public offering. Revenue rose 28.2% to $3.82 billion, supported by growing demand for mobile data, increased mobile money adoption and continued customer growth across its African markets.

Data and mobile money drive Airtel Africa’s revenue growth

According to its latest half-year results, the London-listed telecom group generated $3.82 billion in revenue for the six months ended September 30, 2026, up from $2.98 billion a year earlier. Revenue increased 20.8% in constant currency, reflecting sustained demand across its 14 African markets.

Data revenue emerged as the biggest growth driver, climbing 35.3% to $1.57 billion from $1.16 billion, while mobile money revenue increased 34.8% to $840 million from $623 million. Voice revenue also grew 17.9% to $1.3 billion, reflecting broader adoption of its telecommunications and digital financial services.

The group’s total customer base expanded 11.6% to 193.9 million, compared with 173.8 million a year earlier. Data customers increased 15% to 89.9 million, while mobile money customers rose 22.4% to 60.9 million. Smartphone penetration reached 51.6%, with monthly data consumption per smartphone customer increasing to 13.3 GB from 10.1 GB.

Nigeria remained a major contributor to growth, with revenue increasing 45% in reported currency to $1.01 billion, or 27% in constant currency. East Africa generated $1.78 billion, up 24.8%, while Francophone Africa recorded $867 million, representing 15.8% growth.

Profit climbs as operating margins strengthen

Airtel Africa’s underlying EBITDA increased 32.8% to $1.92 billion from $1.45 billion, while its underlying EBITDA margin expanded 172 basis points to 50.3%. Operating profit rose 34.2% to $1.29 billion, reflecting stronger revenue generation and the benefits of its cost-efficiency programme.

Total finance costs rose 57.1% to $477 million, including a $37 million exceptional charge relating to an in-principle settlement of a commercial dispute involving one of the Group’s subsidiaries.

Chief Executive Officer Sunil Taldar said the group delivered another strong operating and financial performance, supported by sustained customer growth, increasing demand for data and financial services, and disciplined cost management. He also highlighted the growing role of artificial intelligence in improving customer understanding, accelerating innovation and strengthening fraud detection.

Airtel Money listing supports expansion strategy

Airtel Africa’s investment strategy gained momentum following the October 14 listing of Airtel Mobile Commerce N.V., the holding company of Airtel Money, on the London Stock Exchange. The offering involved 270 million existing shares, representing 10% of its issued share capital, at £1.96 per share. Airtel Africa retained its 77.85% controlling stake.

The mobile money business generated $840 million in revenue during the half-year, while its customer base expanded to 60.9 million. Its annualised total processed value reached $275 billion in the second quarter, reflecting growing adoption of digital payments and financial services across its markets.

The group also accelerated infrastructure investment, with capital expenditure more than doubling to $657 million from $318 million. It deployed approximately 4,200 network sites during the period, strengthening coverage and capacity while expanding its broadband and digital infrastructure businesses.

Airtel strategy holds steady
Airtel Africa’s parent company, Bharti Airtel, led by billionaire Sunil Bharti Mittal, ranked 79th on the Bloomberg Billionaires Index with a $29.4 billion net worth, and it ranks as the world’s third-largest mobile operator by subscribers.

Meanwhile, Airtel Africa’s board declared an interim dividend of 3.1 cents per share, representing a 9.2% increase, and returned $108.7 million to shareholders through its share buyback programme. Its net debt stood at $5.87 billion, while leverage improved to 1.6 times from 2.1 times a year earlier.

With operations across 14 African countries, Airtel Africa continues to compete with regional telecommunications operators, including MTN Group and Vodacom, as it expands connectivity, mobile financial services and digital infrastructure across the continent.