Table of Contents
Key Points
- Airtel Africa's Q1 revenue climbed 24.9% in constant currency, reaching $1.42 billion on soaring mobile data and Airtel Money growth.
- Despite FX losses, Airtel added 1.2 million users, raised smartphone penetration to 45.9%, and expanded its 4G and fiber footprint.
- Sunil Taldar succeeds Segun Ogunsanya as CEO, reaffirming Airtel's strategy to boost digital and financial inclusion across 14 African markets.
Airtel Africa Plc, the pan-African telecommunications provider and a subsidiary of Bharti Airtel, the Indian telecom giant led by billionaire Sunil Bharti Mittal, reported strong financial results for the first quarter of its 2026 fiscal year, with revenue reaching $1.42 billion driven by surging data usage, mobile money adoption, and sustained demand across key markets.
Data, mobile money fuel Airtel Africa’s Q1 jump
According to its latest quarterly update, the pan-African telecom and mobile money group posted a 24.9 percent rise in constant currency revenue to $1.42 billion in Q1 ended June 30, up from $1.16 billion a year earlier, driven by strong growth in mobile data and Airtel Money—up 29.2 percent and 38.2 percent, respectively. Profit surged 408.1 percent to $156 million, up from $31 million in Q1 2025, significantly impacted by derivative and foreign exchange losses, primarily in Nigeria.
Nigeria, its biggest market, grew 28.5 percent in naira terms, East Africa rose 19.4 percent, and Francophone Africa climbed 11.9 percent. The group added 1.2 million new users, bringing its base to 147.7 million, with data users up 17.8 percent to 59.8 million and usage per user jumping 25.4 percent.
Data revenue surged 38.1 percent, backed by a 47.4 percent spike in data usage and smartphone penetration rising to 45.9 percent. Total subscribers rose 9 percent to 169.4 million, driven by digital adoption and expanded coverage. Data customers rose 17.4 percent to 75.6 million, supported by a 4.3 percentage-point rise in smartphone penetration to 45.9 percent as Airtel ramped up efforts to close Africa’s digital gap.
FX pressures weigh despite strong local growth
Airtel Africa’s revenue fell 4.6 percent in U.S. dollar terms in Q1, hit by currency devaluations—most notably the naira, which plunged 65.3 percent year-on-year, cutting $298 million from reported revenue.
Outgoing CEO Segun Ogunsanya said the group saw strong double-digit growth in revenue, EBITDA, and operating profit in constant currency. He hands over to Sunil Taldar in July.
Taldar reaffirmed Airtel’s push to bridge Africa’s digital gap, pointing to momentum in network expansion and mobile money, and highlighting growth potential with smartphone penetration at just 45.9 percent.
Airtel strategy holds steady amid market shifts
Airtel Africa, present in 14 Sub-Saharan countries, remains a major telecom force with a growing digital and financial services footprint. Its parent company, Bharti Airtel, led by billionaire Sunil Bharti Mittal, ranked 74th on the Bloomberg Billionaires Index with a $28.6 billion net worth, ranks as the world’s third-largest mobile operator by subscribers.
Competing with South Africa’s MTN Group and Vodacom, Airtel added over 2,300 new sites, expanding its footprint to 37,579 sites and increasing its fiber reach by 2,700 km to 79,600 km. Network improvements lifted 4G population coverage to 74.7 percent, up 3.4 percentage points from a year ago, as the group continues to bridge the digital divide across Africa.
