Joy Agwunobi
Airtel Africa Plc has announced a solid performance for the financial year ended March 31, 2025, marked by significant growth in its customer base, robust revenue figures, and an improvement in profitability—despite macroeconomic challenges in some of its key markets.
The telecoms and mobile money services provider saw its total customer base grow by 8.7 per cent year-on-year, reaching 166.1 million subscribers, driven by a deliberate focus on expanding digital access and enhancing connectivity across its operating markets.
Sunil Taldar, chief executive officer, while commenting on the performance, attributed the growth in user numbers to continued investments in digital infrastructure, which contributed to a 4.3 per cent increase in smartphone penetration, now standing at 44.8 per cent. The company also recorded a 20 per cent rise in smartphone users, bringing the total to 74.4 million.
In the area of data services, Airtel Africa witnessed a 14.1 per cent increase in data customers, now totalling 73.4 million. Average data usage per user surged by 30.4 per cent, reaching 7.0 GB, which in turn supported a 15.4 per cent increase in data Average Revenue Per User (ARPU) in constant currency terms.
The company’s mobile money arm continued its impressive performance, with a 17.3 per cent increase in customers to 44.6 million, while the annualised transaction value for Q4’25 reached $145 billion, reflecting a 34 per cent year-on-year increase in constant currency. Notably, the mobile money ecosystem recorded a 32 per cent increase in transaction value to $136 billion, underscoring its critical role in promoting financial inclusion.
Airtel’s commitment to improving customer experience was backed by substantial capital investments. The company rolled out 2,583 new mobile sites and laid approximately 3,300 kilometres of fibre optic cables, which significantly boosted data capacity and service quality across its markets.
Group-wide, Airtel Africa generated $4.955 billion in revenue, representing a 21.1 per cent increase in constant currency. However, due to currency devaluations in some markets, notably Nigeria, reported revenue declined marginally by 0.5 per cent. The final quarter of the year showed notable momentum, with Q4’25 revenue up by 23.2 per cent in constant currency and 17.8 per cent in reported currency, reflecting easing currency pressures and tariff adjustments in Nigeria.
Mobile services revenue across the group rose by 19.6 per cent, driven by voice revenue growth of 10.6 per cent and a 30.5 per cent increase in data revenue. Mobile money revenue surged by 29.9 per cent, reaffirming the company’s strategic emphasis on digital financial services.
Underlying EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) stood at $2.304 billion, representing a 5.1 per cent decline in reported currency, primarily due to increased fuel costs and the lower contribution from Nigeria. However, the company’s cost efficiency measures helped improve margins progressively during the year—from 45.3 per cent in Q1’25 to 47.3 per cent in Q4’25.
Airtel Africa returned to profitability with a profit after tax of $328 million, recovering strongly from a $89 million loss in the prior fiscal year. The previous year’s loss was largely attributed to foreign exchange and derivative losses, particularly in Nigeria.
Basic earnings per share (EPS) rebounded to 6.0 cents, from a negative 4.4 cents a year earlier. However, EPS before exceptional items declined from 10.1 cents to 8.2 cents, primarily due to increased finance costs related to tower contract renewals and lingering effects of currency devaluation.
The Board of Directors proposed a final dividend of 3.9 cents per share, bringing the total dividend for the fiscal year to 6.5 cents per share, reflecting a 9.2 per cent year-on-year increase. Additionally, the company returned $120 million to shareholders through share buyback programmes during the year.
CEO Sunil Taldar expressed optimism about the company’s future, highlighting the strong momentum driven by strategic execution, expanding digital platforms, and improving market conditions.
“Our refreshed strategy continues to bear fruit. With sustained investments in our network and digital offerings, we have significantly boosted smartphone adoption and data traffic—up 47.5 per cent year-on-year,” he said.
He also noted that revenue acceleration, supported by Nigerian tariff revisions and cost optimisation, had led to quarterly EBITDA margin expansion.
“Underlying margins improved by 200 basis points over the year. Coupled with a disciplined capital allocation approach, we are well-positioned to continue growing and investing in our network,” he added.
Looking ahead, Taldar emphasised the importance of remaining vigilant in the face of potential global headwinds, while maintaining focus on Airtel Africa’s mission to drive digital and financial inclusion across its markets.
“While we are encouraged by the relative stability in our operating environment, we remain cautious of external challenges. Our commitment to transforming lives through connectivity and economic empowerment remains unwavering,” he said.
