Airtel Sets Date to Sell Its Bank’s Shares to Nigerians, Others, CEO Explains Strategies

• Airtel Africa has planned to list Airtel Money for an Initial Public Offering in the first half of 2026
• The company’s chief executive officer, Sunil Taldar, disclosed this as the telecommunication company released its financial report
• Meanwhile, the company has also concluded plans to partner with SpaceX to leverage Starlink to boost internet service in Africa

Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.

Airtel Africa has disclosed that it is making progress in preparations for Airtel Money Initial Public Offer (IPO), explaining that it remains committed to the plan.

The telco’s chief executive, Sunil Taldar, disclosed this following the company's release of financials for Q1 2025.

Airtel sets sights on IPO for Airtel Money

Airtel Money is a mobile money service operated by Airtel, which allows users to pay digitally, send money, and manage their accounts via mobile phones.

Taldar said that Airtel Africa is aware of market conditions and anticipates a listing even in the first half of 2026.

The telco has continued to ramp up investments in the Airtel Money agent network across its markets in Africa, boosting offerings and expanding uses, which has contributed to a 17.3% increase in mobile money subscribers to 44.6 million and an 11.4% growth in constant currency.

According to the company, it is accelerating growth and sequential margin expansion, supporting its strong operating and financial muscle.

Airtel Africa makes giant strides

A BusinessDay report says that the company’s customer base rose by 8.7% to 166.1 million, focusing on data inclusion, with a 4.3% increase in smartphone access to 44.8%.

Data customers rose by 14.1% to 73.4 million, with data usage per customer rising by 30.4% to 7.0GB, supporting data growth of 15.4% in constant currency.

In the fourth quarter of 2025, transaction value rose by 34% in constant currency, with transaction value hitting $145 billion per annum.

The telecommunication firm said its strategic focus on customer experience was due to sustained network investment, with the rollout of 2,583 new sites and 3,300km of fibre.

Airtel’s revenue grows

The company’s revenue grew by 21.1$ % in constant currency but dropped by 0.5% in reported currency due to devaluations across its markets.

Strong execution and tariff adjustments in Nigeria contributed to further growth, with the fourth quarter of 2024 revenue rising to 23.2% in constant currency, and 17.8% in reported currency

Across its network, Airtel’s mobile services revenue rose by 19.6% in constant currency due to voice revenue growth of 10.6% and data revenue growth of 30.5%.

Mobile money revenue rose by 29.9% in constant currency.

For Q1 2025, the company’s EBITDA dropped by 5.1% in reported currency to $2.304 billion, with underlying EBITDA margins of 46.5% relative to 48.8% in the year before, caused by increased fuel prices and reduced contribution to Nigeria.

The company’s profit after tax of $328 million improved from a $89 million loss in the prior period.

Airtel to partner with Starlink

The development comes as Airtel Africa inked a deal with SpaceX, the space exploration company owned by billionaire Elon Musk, to bring Starlink’s high-speed internet services to its customers in Africa, including Nigeria.

With the new partnership, Airtel will leverage Starlink’s satellite services and augment connectivity for enterprises, businesses, and socio-economic communities, including in rural areas.

Taldar said next-generation satellite connectivity will ensure that every person, business, and community have strong and affordable voice and data connectivity even in the remotest parts with low internet access.

MTN, Airtel sign deal to share network infrastructure

Legit.ng earlier reported that MTN Group and Airtel Africa have signed a new network infrastructure sharing deal to improve service coverage in two countries.

This new deal will save both telecommunication groups significant investments in mobile phone network infrastructure while allowing them to increase service coverage.

Both groups released official statements on Wednesday, March 26, about the new deal, which takes effect in Nigeria and Uganda.

Proofreading by Nkem Ikeke, copy editor at Legit.ng.

Source: Legit.ng