Airtel Africa Plc has reported strong financial performance for the first half of its 2026/2027 financial year, with Nigeria emerging as a major growth driver as revenue from the market increased 26.6% in constant currency.
The telecommunications group reported revenue of $3.82 billion for the six months ended September 30, 2026, representing a 28.2% increase in reported currency and 20.8% growth in constant currency.
Underlying EBITDA rose 32.8% to $1.92 billion, with the EBITDA margin expanding to 50.3%, close to the company’s all-time high of 50.4% recorded in the second quarter.
Profit after tax also improved to $452 million, compared with $376 million in the corresponding period last year.
Nigeria Leads Airtel Africa’s Growth
Nigeria delivered one of the strongest performances across Airtel Africa’s 14 markets, supported by customer expansion, higher data consumption and improved average revenue per user (ARPU).
Mobile services revenue in the country increased 44.6% in reported currency to $1.01 billion, while constant-currency growth stood at 26.6%.
The growth was supported by a 15.1% increase in customer numbers to 61.7 million and a 12.3% expansion in ARPU.
Data revenue grew 33.8% in constant currency, reflecting rising demand for mobile internet services. Smartphone penetration increased to 56.8%, while average monthly data consumption per smartphone customer climbed to 16.7GB from 12.7GB.
Airtel Nigeria’s underlying EBITDA increased 49.2% in reported currency and 30.7% in constant currency to $586 million. Its EBITDA margin expanded by 181 basis points to 58.2%.
The appreciation of the naira also boosted the reported figures, with the weighted average exchange rate improving to N1,360 per dollar from N1,553 per dollar in the comparable period.
The company said its cost-efficiency initiatives helped contain the impact of higher energy expenses. Meanwhile, its capital expenditure in Nigeria more than doubled to $177 million as Airtel accelerated investment in network infrastructure and capacity.
Data and Mobile Money Drive Growth
Across its African operations, Airtel Africa continued to record growth in customer numbers and digital services.
Total customers increased 11.6% to 193.9 million, while data customers rose 15% to 89.9 million. Mobile money customers increased 22.4% to 60.9 million.
Mobile money revenue grew 25.8% in constant currencyMobile money revenue grew 25.8% in constant currency, supported by increased adoption of digital financial services. The annualised total processed value of transactions reached $275 billion in the second quarter.
The company also expanded its network infrastructure, with group capital expenditure more than doubling to $657 million during the period. Approximately 4,200 new network sites were added.
Airtel Africa’s leverage improved to 1.6 times from 2.1 times, reflecting stronger cash generation and an improved balance-sheet position.
Commenting on the results, Chief Executive Officer Sunil Taldar highlighted the recent Airtel Money initial public offering as an important milestone in the company’s development.
He reaffirmed the group’s commitment to investing in network infrastructure, digital capabilities and financial inclusion to support sustainable growth across its markets.
