Airtel Africa Reports 25% Revenue Growth as Data Surpasses Voice Earnings

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Airtel Africa has posted a strong financial performance for the second quarter of the 2026 financial year (Q2’26), with total revenue rising 25.8% to $2.98 billion, buoyed by expanding data usage, a growing customer base, and continued momentum in its Airtel Money business.

The company recorded 24.5% revenue growth in constant currency, supported by favourable currency movements across key markets such as Nigeria and Francophone Africa.

According to the company’s latest trading update, Airtel Africa’s mobile services revenue increased by 23.1%, driven by 13.2% growth in voice revenue and 37% growth in data revenue, bringing total data earnings to $1.16 billion, now surpassing voice as the largest contributor to group revenue.

Airtel Money also maintained strong momentum, reporting 30.2% growth in constant currency due to higher transaction volumes and increased user activity.

The group’s customer base grew by 11% to 173.8 million, while data customers rose by 18.4% to 78.1 million. The company’s smartphone penetration also climbed 3.8 percentage points to 46.8%.

Airtel Africa’s focus on customer experience and innovation drove adoption of its digital platforms, including the MyAirtel app, which continues to see increased engagement. Data usage across the network surged by 45%, leading to a 16.8% increase in data average revenue per user (ARPU) in constant currency.

In the mobile money segment, Airtel Money’s customer base rose 20% to 49.8 million. The annualised total processed value (TPV) for Q2’26 surpassed $193 billion, marking a 35.9% year-on-year increase. The company said this growth was driven by an expanding user base and ongoing innovation to strengthen its digital financial ecosystem.

Airtel Africa continued to invest in infrastructure to support rising demand for connectivity. The company rolled out over 2,350 new sites, bringing its total to more than 38,300, while its fibre network expanded by approximately 4,000 km, reaching over 81,000 km. As a result, population coverage improved to 81.5%, with 98.5% of sites now 4G-enabled.

The company’s profitability also improved markedly during the quarter. EBITDA grew by 33.2% in reported currency to $1.45 billion, while the EBITDA margin expanded to 48.5%, up from 45.8% in the prior year. In Q2’26 alone, the margin reached 49%.

Airtel Africa’s profit after tax rose sharply to $376 million, compared to $79 million a year earlier. The prior year’s results were impacted by derivative and foreign exchange losses, mainly in Nigeria. The current period benefited from a $90 million gain resulting from the appreciation of the Nigerian naira during Q2’26 and the Central African franc (CFA) in Q1’26.

Earnings per share (EPS) improved to 8.3 cents, up from 0.8 cents in the previous year. EPS before exceptional items also increased from 4.9 cents to 8.3 cents.

Commenting on the performance, Sunil Taldar, Chief Executive Officer of Airtel Africa, said the results demonstrate the company’s commitment to enhancing customer experience and digital innovation.

“Our strategy has been focussed on providing a superior customer experience and the strength of these results is testament to the initiatives that we have been implementing across the business,” said Taldar.

“Digital innovation is a core focus, and we’re pleased to see the growing adoption of MyAirtel app as we seek to deepen customer engagement and simplify the customer journey.”

Taldar added that the increase in smartphone penetration and data demand highlights the growing opportunity to accelerate digital and financial inclusion across Airtel Africa’s markets.

“Airtel Money continues to gain momentum, with our customer base nearing 50 million and annualised total processed value approaching $200bn, up over 35% year-on-year,” he said.

He confirmed that preparations for the Airtel Money IPO remain on track, with a listing expected in the first half of 2026.

Jefferson Wachira is a writer at Africa Digest News, specializing in banking and finance trends, and their impact on African economies.