Indian billionaire Sunil Bharti Mittal’s telecom venture in Africa has posted a robust first-quarter performance, signaling a strong start to its 2026 fiscal year. Airtel Africa, a subsidiary of Bharti Airtel, reported $1.42 billion in revenue for the quarter ended June 30, driven by soaring mobile data usage, rapid expansion of its mobile money platform, and a growing subscriber base across 14 African nations.
Key performance highlights
Revenue rose 24.9 percent in constant currency terms, up from $1.16 billion in Q1 2025
Profit after tax surged 408.1 percent to $156 million, compared to $31 million a year earlier
Mobile data revenue jumped 38.1 percent, supported by a 47.4 percent increase in data usage
Airtel Money revenue grew 38.2 percent, reflecting rising adoption of digital financial services
Total subscriber base expanded by 9 percent to 169.4 million, with 75.6 million data users
Regional growth dynamics
Nigeria, Airtel Africa’s largest market, posted a 28.5 percent revenue increase in local currency, despite FX headwinds
East Africa saw a 19.4 percent rise, while Francophone Africa grew 11.9 percent
Smartphone penetration rose to 45.9 percent, up 4.3 percentage points year-on-year
Airtel added 1.2 million new users in Q1, bringing its total base to 147.7 million active customers
Digital and financial inclusion strategy
Airtel Africa continues to invest in expanding its 4G and fiber networks, adding over 2,300 new sites and 2,700 km of fiber
4G population coverage reached 74.7 percent, up 3.4 percentage points from last year
Airtel Money now offers payments, microloans, savings, and international transfers, positioning itself as a key player in Africa’s fintech ecosystem
The company’s mobile money division reported EBITDA growth of 22.4 percent in FY25, with continued momentum into Q1 2026
Leadership transition and strategic continuity
Segun Ogunsanya stepped down as CEO in July, handing over to Sunil Taldar, who reaffirmed Airtel’s commitment to bridging Africa’s digital divide
Taldar emphasized the group’s focus on network expansion, smartphone penetration, and financial inclusion
Airtel Africa’s capex guidance for FY26 has been raised to $750 million, up from $670 million in FY25, reflecting its aggressive growth strategy
Currency headwinds and financial resilience
Despite strong operational performance, reported revenue in USD terms fell 4.6 percent due to currency devaluations, especially the Nigerian naira which dropped 65.3 percent year-on-year
FX losses shaved $298 million off reported revenue, though Airtel Africa still delivered double-digit growth in constant currency
The company’s net debt has been reduced to $3.32 billion, down from $7.5 billion in 2016–17, aided by asset sales and strategic investments
Market positioning and competitive landscape
Airtel Africa is the first- or second-largest operator by market share in 13 of its 14 markets
It competes with South Africa’s MTN Group and Vodacom, but continues to gain ground through aggressive network rollout and digital services
Bharti Airtel, its parent company, ranks as the world’s third-largest mobile operator by subscribers, with Sunil Mittal’s net worth estimated at $28.6 billion
Conclusion: Airtel Africa’s digital momentum accelerates
Airtel Africa’s Q1 results underscore its transformation from a struggling telecom venture into a digital powerhouse. With strong growth in mobile data, financial services, and user expansion, the company is well-positioned to capitalize on Africa’s digital revolution. Under new leadership and backed by strategic investments, Airtel Africa is charting a path toward becoming the continent’s leading telecom and fintech provider.
Sources: Billionaires Africa, Economic Times
