NIGERIA · COMPANY RESULTS
Key Facts
- The country Nigeria is Africa’s most populous nation and one of Airtel Africa’s three reporting regions.
- What happened Airtel Africa reported profit after tax of US$452 million for the six months to 30 September 2026.
- Revenue Sales rose 28.2% to US$3.82 billion, up from US$2.98 billion a year earlier.
- Payout The board declared an interim dividend of 3.1 US cents per share, up 9.2%.
- Still open The company gave no profit split for Nigeria and no full-year forecast.
Airtel Africa profit rose to US$452 million in the six months to 30 September 2026, the phone and mobile-money group said. Revenue climbed 28.2% to US$3.82 billion in results issued on Friday 30 October 2026.
The result matters to US readers because the company is listed in London and Lagos and sells in fast-growing phone markets. Nigeria, where the naira currency strengthened, was a major source of the growth.
The Headline Numbers
Revenue for the half year reached US$3.82 billion, against US$2.98 billion in the same period of 2025. Operating profit rose 34.2% to US$1.29 billion, and profit after tax rose 20.5% to US$452 million from US$376 million.
Underlying EBITDA, a measure of earnings before interest, tax and depreciation, grew 32.8% to US$1.92 billion. The margin on that measure reached 50.3%, up from 48.5% a year earlier.
Why Nigeria Stands Out
Airtel Africa said revenue in Nigeria grew 45.0% in US dollars and 27.0% in local currency. The gap came from the naira, which averaged 1,360 to the dollar in the period against 1,553 a year before.
At the end of October 2026 the naira traded near 1,345 to the dollar (about US$0.00074 per naira). A stronger naira makes Nigerian earnings worth more once they are converted into dollars, which is the currency Airtel Africa reports in.
Data and Mobile Money Drive Growth
Data revenue rose 35.3% to US$1.57 billion, and mobile money revenue rose 34.8% to US$840 million. Voice calls still brought in US$1.30 billion, up 17.9%.
Customers grew 11.6% to 193.9 million, and 60.9 million of them use mobile money, up 22.4%. Mobile money lets people send, save and pay using a phone, even without a bank account.
Spending Doubles on Networks
Capital spending more than doubled to US$657 million, up from US$318 million a year earlier. The company added about 4,200 new sites and says 99.2% of its network sites now carry 4G.
Its 5G service now runs at 4,100 sites in seven markets. The group also paid US$65 million for new 5G airwaves in Kenya, as described in our report on the Airtel Kenya 5G deal.
Debt, Dividend and Airtel Money
Net debt stood at US$5.87 billion, or 1.6 times underlying EBITDA, down from 2.1 times. The board declared a 3.1 US cent interim dividend, up 9.2%, payable on Friday 11 December 2026.
The company also bought back shares worth US$108.7 million during the period. Its mobile-money arm, Airtel Money, listed on the London Stock Exchange on Wednesday 14 October 2026, and Airtel Africa kept its shareholding.
What It Means for US Readers
Airtel Africa shares trade in London and Lagos, so most US investors reach the stock through international funds or foreign brokers. The Airtel Africa profit rise shows a large emerging-market phone company growing fast while cutting its debt burden.
American firms that sell apps, payments and cloud services to Nigeria and East Africa depend on networks like this one. Fuel costs and currency swings can still change profits quickly, as the company itself warned.
What Is Not Known
The company did not give a separate Airtel Africa profit figure for Nigeria, only revenue growth. It also gave no full-year profit forecast, and said margins will depend on fuel costs.
Airtel Africa profit was cut by US$55 million of one-off items, including a dispute settlement at a subsidiary and Airtel Money listing costs. The company did not name the dispute or say how much of it is still unsettled.
More: Nigeria news in English, every day from The Rio Times.
Frequently Asked Questions
How much profit did Airtel Africa make?
Airtel Africa profit after tax was US$452 million for the six months to 30 September 2026. A year earlier it was US$376 million.
How much did revenue grow?
Revenue rose 28.2% to US$3.82 billion. In constant currency, which removes exchange-rate effects, growth was 20.8%.
When did Airtel Africa publish the results?
The company published them on Friday 30 October 2026. They cover the first half of its financial year, which ends in March.
Is Airtel Africa paying a dividend?
Yes, an interim dividend of 3.1 US cents per share, up 9.2%. It is payable on Friday 11 December 2026.
Why did Nigeria grow so fast in dollar terms?
Local-currency revenue grew 27.0%, and a stronger naira lifted the dollar figure to 45.0%. The company reports its results in US dollars.
Sources: Airtel Africa plc, results for the half year ended 30 September 2026 (press release), 30 October 2026; Airtel Africa plc, investor relations: results and presentations, 31 October 2026.
Editorial responsibility: Matthias Camenzind, Editor-in-Chief · Editorial standards · Report an error
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