Airtel Africa Profit Soars 147% as Nigerian, Tanzanian Currencies Deliver $127m Forex Gain
Airtel Africa reported a surge in profit after tax to $813 million for the year ended 31 March 2026, up from $328 million in the prior period, buoyed by a $127 million derivative and foreign exchange gain.
Group revenue in reported currency rose 29.5% to $6.415 billion, while revenue growth in constant currency was 24.0%. The company said reported revenue growth outpaced constant-currency performance due to currency appreciation across most of its markets.
In the fourth quarter of the financial year, constant currency revenue growth was 22.3%, lower than the previous quarter, as the company cycled past the impact of Nigeria tariff adjustments implemented in Q4 2025.
For the full year, constant currency revenue growth was driven by Nigeria, where revenue climbed 47.5%, alongside 17.8% growth in East Africa. Francophone Africa also recorded an acceleration in revenue growth to 17.1% from 9.5% in the 2024/25 financial year.
Mobile services revenue increased to $5.35 billion, up 27.6% in reported currency and 22.6% in constant currency. Growth was led by a 12.8% increase in voice revenue and a 35.2% rise in data revenue in constant currency terms.
Mobile money revenues also expanded, rising 36.3% in reported currency and 28.4% in constant currency, supported by strong momentum in East Africa and Francophone Africa.
Total finance costs fell to $713 million from $822 million a year earlier. Airtel Africa said the prior period was weighed down by $179 million of derivative and foreign exchange losses linked to the revaluation of US dollar liabilities and derivatives following currency devaluations, including $87 million classified as an exceptional item.
In contrast, the 2025/26 financial year included $127 million of derivative and foreign exchange gains, largely due to naira appreciation. Excluding these gains and losses, finance costs increased to $840 million from $643 million, mainly reflecting the full-year impact of interest on lease liabilities after tower contract renewals in September 2024, which the company said had a neutral to positive effect on cashflows.
