Airtel Africa Targets Airtel Money IPO as Fintech Revenue Hits $1.35 Billion

By Àkànní Olúwaségún Michael

Airtel Africa is moving closer to a potential public listing of its mobile money business, Airtel Money, after the fintech platform delivered record revenue of $1.35 billion and processed nearly $200 billion in transactions during the financial year ended March 2026.

The telecommunications giant disclosed in its 2026 Annual Report that Airtel Money revenue rose by 36.3 per cent in reported currency to $1.355 billion, while total processed value (TPV) increased to $196 billion, underscoring the growing importance of digital financial services within the group’s business model.

Airtel Money has emerged as one of Africa’s largest mobile money platforms, serving 54.1 million customers across the company’s markets.

The customer base expanded by 21.3 per cent during the year, while transaction volumes and financial services adoption continued to strengthen.

The fintech business now contributes more than one-fifth of Airtel Africa’s total revenue, highlighting its increasing significance beyond the company’s traditional telecommunications operations.

According to the report, Airtel Money revenue now accounts for 21.1 per cent of total group revenue, up from 20.1 per cent in the previous financial year.

The growth was driven by expanding adoption of digital payments, transfers, savings products, credit services, insurance offerings and merchant payment solutions across the company’s footprint in sub-Saharan Africa.

Airtel said mobile money is helping transform the region’s financial ecosystem by digitising cash-based economies and advancing financial inclusion.

“Mobile money is transforming the financial landscape in sub-Saharan Africa, digitising cash-based economies and advancing financial inclusion,” the company stated in the report.

The company added that Airtel Money remains “at the forefront of this change, helping to build the new financial ecosystem” through innovation, partnerships and product expansion.

Airtel’s mobile money business continued to deepen customer engagement throughout the year. The report revealed that customers using more than four Airtel Money products generated average revenue per user that was 18 times higher than customers using only one service across the company’s six largest markets.

The company also reported growing migration from USSD-based transactions to smartphone applications. Customers using the MyAirtel application generated average revenue 5.6 times higher than feature phone users, while transacting users on the app increased by 74 per cent during the year.

The value of Airtel Money transactions processed through the MyAirtel application rose by 80 per cent to $8.2 billion, reflecting broader shifts toward digital financial services.

To support growth, Airtel continued expanding its distribution and merchant networks across Africa. The number of active mobile money agents rose by 664,000 to reach 2.4 million, while Airtel Money customers increased to 54.1 million.

The company said merchant and biller transaction value grew by 44 per cent in constant currency as more small and medium-sized businesses adopted digital payment solutions.

“Across sub-Saharan Africa, small and medium-sized enterprises are at the heart of the economy and at the leading edge of the transition to a digital financial ecosystem,” Airtel noted.

The report showed that Airtel Money’s growth extended beyond payments and transfers into higher-margin financial products. Revenue from financial services grew by 61.1 per cent during the year, outpacing growth in wallet services and payment transactions.

The company attributed the performance to increasing customer adoption of savings products, overdrafts, term loans, insurance services and virtual payment cards.

For investors, the results reinforce Airtel Money’s status as one of the group’s most valuable growth assets and strengthen the strategic rationale for a future listing.

The business has increasingly drawn comparisons with Africa’s leading fintech platforms due to its scale, profitability and expanding ecosystem of digital financial services.

The strong performance also comes at a time when demand for financial inclusion solutions continues to rise across Africa, where millions of people remain underserved by traditional banking institutions.

With revenue surpassing $1.3 billion, transaction value approaching $200 billion and customer numbers exceeding 54 million, Airtel Money is becoming a central pillar of Airtel Africa’s long-term growth strategy.