Airtel Africa’s CEO, Sunil Taldar, announced in a CNBC Africa interview that the company is preparing for an Initial Public Offering (IPO) of its Airtel Money business in the first half of 2026, delayed from an earlier timeline due to market volatility.
The move aims to unlock value for investors and capitalise on Airtel Money’s robust growth, with a 30% CAGR over five years and a valuation estimated at $4 billion in 2024, reports say.
Airtel Money, a key player in African fintech, reported $994 million in revenue for the fiscal year ending March 2025, up 18.8% (29.9% in constant currency), and $525 million in EBITDA with a 52.8% margin.
The unit’s 44.6 million users, up 17.3%, drove $145 billion in annualised transaction value, a 32% increase. Growth was fueled by a 13% rise in per-user transactions to $273 monthly, expanded digital engagement via the MyAirtel app (91% growth in app-based transactions), and a bolstered network of 320,000 new agents and 1,000 kiosks.
Taldar highlighted Airtel Money’s role in Africa’s digital economy, evolving from a mobile wallet to a platform offering lending, micro-savings, remittances, QR payments, and B2B integrations.
East Africa led with 32% revenue growth, followed by Francophone markets at 22%, while Nigeria’s 1.7 million users signal untapped potential.
Despite Airtel Africa’s 11.1% drop in operating profit to $1.46 billion, prompting an 8.1% share price decline to 156.5p, Taldar emphasised operational resilience.
Cost optimisation, de-dollarisation, and reduced dollar-denominated debt have strengthened financial stability amid macroeconomic challenges.
Investments in network infrastructure and digital capabilities continue to drive customer acquisition and satisfaction across 14 markets.
The IPO underscores Airtel Africa’s strategy to maximise shareholder value and sustain its position as a leading, profitable telco in Africa.
Priorities include enhancing digital engagement, expanding partnerships, and improving operational efficiency to support Airtel Money’s growth trajectory.
Note: Airtel Africa’s market cap is approximately £5.8 billion, following its 2019 London listing at £3.1 billion. Previous IPOs include Airtel Malawi (2020) and Airtel Uganda (2023).
