Airtel Africa Reports Q1 Profit Growth and Plans London IPO

Airtel Africa reported a 27% year-on-year increase in profit after tax to $198 million for the first quarter ended June 30, 2026. Consolidated revenue rose 31% to $1.85 billion, fueled by tariff adjustments in Nigeria and growth in voice, data services, and mobile money. The company's customer base grew 11.6% to 189 million, with average monthly data usage per customer reaching 10.6 GB.

Alongside the earnings report, the company announced that it has selected London as the preferred listing venue for the initial public offering of its fintech platform, Airtel Money, scheduled for 2026. The mobile money segment showed significant momentum, with its customer base increasing 23.3% to 56.5 million and the annualized total processed value rising 51.5% to over $245 billion.

Financial results were tempered by $6 million in derivative and foreign exchange losses, as well as a $37 million exceptional finance cost related to a commercial dispute settlement in a subsidiary. To meet rising demand and support digital transformation, the company increased capital expenditure to $389 million, up from $121 million in the same period last year.