FY 2025: Airtel Africa customers grew to 166.1m, 21.1% revenue growth
Airtel Africa has announced a robust 8.7 per cent growth in its customer base, reaching 166.1 million by the end of the financial year on March 31, 2025, driven by strong operational performance across its markets.
The company highlighted that this growth reflected its accelerating pace and the expansion of margins throughout the fiscal year. It further noted that its emphasis on digital inclusion played a crucial role in driving a 4.3 per cent increase in smartphone penetration, which now stands at 44.8 per cent.
In addition, Airtel Africa reported a significant 14.1 per cent rise in data customers, reaching 73.4 million, supported by a notable 30.4 per cent increase in data usage per customer, amounting to 7.0 GB. This surge in data consumption contributed to a 15.4 per cent growth in data ARPU (average revenue per user) in constant currency.
The company also acknowledged the positive results from investments in its Airtel Money platform, which saw a 17.3 per cent increase in mobile money subscribers, reaching 44.6 million, and an 11.4 per cent rise in mobile money ARPU in constant currency. The transaction value for Airtel Money in Q1’25 surged by 34 per cent in constant currency, reaching an annualised value of $145 billion.
Strategic network investments were another key focus, with Airtel Africa rolling out 2,583 new sites and approximately 3,300 kilometres of fibre to enhance data capacity and improve customer experience across the region.
Financially, Airtel Africa reported revenues of $4,955 million, representing a substantial 21.1 per cent increase in constant currency. However, reported currency revenues experienced a slight decline of 0.5 per cent due to currency devaluation. The company attributed this growth to strong operational execution and tariff adjustments in Nigeria, which led to a 23.2 per cent increase in Q4’25 revenue in constant currency and a 17.8 per cent growth in reported currency.
Mobile services revenue grew by 19.6 per cent in constant currency, driven by a 10.6 per cent rise in voice revenue and a 30.5 per cent increase in data revenue. Mobile money revenue also demonstrated strong growth, up 29.9 per cent in constant currency.
In terms of underlying EBITDA (earnings before interest, taxes, depreciation, and amortisation), Airtel Africa reported $2,304 million, marking a 5.1 per cent decrease in reported currency. However, underlying EBITDA margins stood at 46.5 per cent, compared to 48.8 per cent in the previous year. The company noted that higher fuel prices and a lower contribution from Nigeria had impacted the margins, but more stable operating conditions and the positive effects of cost efficiency programmes improved margins, rising from 45.3 per cent in Q1’25 to 47.3 per cent in Q4’25.
The company also saw a significant improvement in profit after tax, reaching $328 million, compared to a loss of $89 million in the previous period, which had been impacted by derivative and foreign exchange losses, particularly in Nigeria. Basic EPS (earnings per share) increased to 6.0 cents, a notable improvement from the negative 4.4 cents in the prior period, driven by reduced derivative and foreign exchange losses.
For capital expenditure (capex), Airtel Africa spent $670 million, slightly below the projected guidance due to the deferral of data centre investments. The company has set its capex guidance for the coming year between $725 million and $750 million, demonstrating its ongoing commitment to investing in future growth.
The company also worked to reduce its foreign currency debt exposure, successfully paying down $702 million over the past year. It now has 93 per cent of its operating company debt denominated in local currency, up from 83 per cent the previous year.
Airtel Africa’s board proposed a final dividend of 3.9 cents per share, bringing the total dividend for the year to 6.5 cents per share, representing a 9.2 per cent increase from the previous year. Additionally, the company returned $120 million to shareholders through share buyback programmes during the year.
Commenting on the results, CEO Mr. Sunil Taldar praised the strong operating performance, driven by the company’s strategic focus and continuous investments in network and digital platforms. He highlighted the 20 per cent increase in smartphone customers to 74.4 million and the 47.5 per cent surge in data traffic.
Taldar also pointed to the significant role Airtel Money plays in advancing financial inclusion, with a 17.3 per cent growth in customers and a 32 per cent increase in transaction value in constant currency, reaching $136 billion.
He attributed the company’s robust financial momentum to an improving operating environment and effective execution, noting that revenue growth in Q4’25 had peaked at 23.2 per cent in constant currency, partly driven by tariff adjustments in Nigeria.
Looking ahead, Taldar affirmed the significant progress made towards the anticipated Airtel Money IPO, expected to take place in the first half of calendar year 2026, depending on market conditions. He also reiterated Airtel Africa’s commitment to its strategy of improving customers’ lives and supporting economic prosperity across its markets.
