Digital Growth Fuels $699M Boom for Airtel Africa in Nigeria
- Airtel Nigeria's H1 2025 revenue surged 46.5% to $699M, driven by $2.98B growth at Airtel Africa from currency appreciation and strategic initiatives. - Data services overtook voice as Airtel Africa's largest revenue segment ($1.16B), fueled by 46.8% smartphone penetration and network expansion. - Airtel Africa raised 2026 capex guidance to $875M-$900M, deploying $318M in H1 for 2,350 new sites and 4,000km fiber expansion to support digital inclusion. - Airtel Money nears 50M users with $200B annualized
Airtel Nigeria experienced a 46.5% jump in revenue, reaching $699 million in the first half of 2025, propelled by Airtel Africa Plc’s overall revenue growth to $2.98 billion—a 25.8% increase year-over-year in constant currency, as reported by
Nigeria, a major driver of Airtel Africa’s growth, delivered robust results in both voice and data segments. Mobile service revenue climbed 23% in constant currency, with data revenue surpassing voice to become the top contributor at $1.16 billion, as detailed in
Building on this growth, Airtel Africa raised its capital expenditure outlook for fiscal 2026 to a range of $875 million to $900 million, up from the previous estimate of $725 million to $750 million, as reported by Marketscreener. In the first half, the company invested $318 million in capital expenditures, which included the deployment of 2,350 new network sites and a 4,000-kilometer extension of its fiber network, according to the Economic Times. Taldar stressed that these investments are designed to tap into the region’s “distinct opportunity” arising from low smartphone and banking penetration, coupled with rising digital adoption, as highlighted by Marketscreener.
Airtel Money, the company’s mobile financial services division, also played a significant role in the overall growth, with its user base approaching 50 million and annualized transaction value nearing $200 billion. The platform is preparing for a public listing in the first half of 2026, which will further diversify Airtel’s income sources. Additionally, EBITDA margins improved to 48.5% for the half-year, up from 45.8% a year earlier, reflecting gains in operational efficiency and stronger margins from data services.
Despite industry-wide difficulties, such as bankruptcies among smaller regional airlines and inconsistent outcomes in satellite and enterprise technology sectors, Airtel Africa’s emphasis on infrastructure development and digital transformation positions it to benefit from the favorable demographic and economic trends in sub-Saharan Africa.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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