Airtel Africa Reports Strong Growth, Announces Second Share Buyback

Airtel Africa Plc has reported a solid financial and operational performance for the nine-month period ended December 31, 2024, reflecting the company’s continued focus on customer growth, digital transformation, and financial inclusion. Despite challenges such as currency devaluation, the company’s strategic execution has led to strong growth in key areas, including data and mobile money services.

Operational Success and Expanding Customer Base

Airtel Africa’s total customer base increased by 7.9% to 163.1 million, with data customers rising by 13.8% to 71.4 million. The company also reported a significant 32.3% increase in data usage per customer, reaching an average of 6.9GB per user. Smartphone penetration grew to 44.2%, reinforcing the company’s digital transformation efforts.

In line with its commitment to financial inclusion, Airtel’s mobile money segment saw an 18.3% growth in subscribers, reaching 44.3 million users. The transaction value for Q3 2025 alone increased by 33.3% in constant currency, with an annualized transaction value of $146 billion.

Revenue Growth Amid Currency Challenges

Revenue for the nine-month period grew by 20.4% in constant currency to $3.64 billion. However, due to continued currency devaluation, revenue declined by 5.8% in reported currency. Airtel Africa’s mobile services revenue grew by 18.8% in constant currency, driven by a 9.8% rise in voice revenue and a substantial 29.5% increase in data revenue. The mobile money segment remained a key driver of growth, with revenue surging by 29.6% in constant currency.

Despite currency pressures, Airtel Africa improved its EBITDA margin, expanding from 45.3% in Q1 2025 to 46.9% in Q3 2025, following successful cost efficiency initiatives. EBITDA for the nine-month period stood at $1.68 billion, while profit after tax reached $248 million, benefiting from a $94 million exceptional gain following the appreciation of the Nigerian naira and Tanzanian shilling.

Strengthening Financial Position and Shareholder Returns

Airtel Africa continued to reduce its foreign currency debt exposure, paying down $739 million in the past year. The proportion of its operating company (OpCo) debt in local currency increased from 79% to 92%, strengthening its financial resilience.

Following the successful completion of its first $100 million share buyback, Airtel Africa announced a second buyback program of up to $100 million, reaffirming its confidence in the company’s growth potential and strong balance sheet.

CEO’s Optimism and Future Outlook

Commenting on the results, Airtel Africa CEO Sunil Taldar highlighted the company’s focus on enhancing customer experience, expanding digital services, and maintaining financial discipline.

“We have delivered an improvement in both the operating and financial performance in the last quarter, driven by our refined strategy focused on delivering great customer experience across all touchpoints,” Taldar said. “We remain committed to investing for the future by expanding our distribution and network to ensure that we capture the significant growth opportunities across our markets.”

Taldar also welcomed recent signs of currency stabilization and regulatory support in Nigeria, expressing optimism for a more stable operating environment.

With strong revenue growth, increasing market penetration, and continued investment in digital infrastructure, Airtel Africa is positioning itself as a key driver of connectivity and financial inclusion across the continent.