Airtel Africa is planning to invest between $725 million and $750 million in capital expenditure next year, according to its financial report for the year ended March 31, 2025. While the previous CAPEX of $670 million was below guidance due to a deferral of data center investment, the company aims to continue investing for future growth. The firm has consistently reduced its foreign currency debt exposure, paying down $702 million over the year.

The report revealed a profit after tax of $328 million for the reviewed period, a significant increase from $89 million in 2024, largely due to foreign exchange in Nigeria. Revenues reached $4.95 billion, marking a 21.1% increase in constant currency terms, although reported currency saw a 0.5% decline due to devaluations in certain markets. Revenue from Nigeria specifically was $1.05 billion, down 30.47% from the previous year's $1.50 billion.

Strong execution and tariff adjustments in Nigeria contributed to growth, with Q4’25 revenue growth of 23.2% in constant currency and 17.8% in reported currency. Mobile services revenue across the Group grew by 19.6% in constant currency, driven by a 10.6% increase in voice revenue and a 30.5% increase in data revenue. Mobile money revenue also saw substantial growth, increasing by 29.9% in constant currency.

Airtel Africa's customer base expanded by 8.7% to 166.1 million, with smartphone penetration rising to 44.8%. Data customers increased by 14.1% to 73.4 million, and data usage per customer grew by 30.4% to 7.0 GB, supporting data ARPU growth of 15.4% in constant currency. Investment in the Airtel Money agent network and enhanced digital offerings led to a 17.3% increase in mobile money subscribers, reaching 44.6 million, and an 11.4% growth in constant currency ARPU. In Q4 ’25, transaction value increased by 34% in constant currency, with an annualized transaction value of $145 billion.

Underlying EBITDA declined by 5.1% in reported currency to $2,304 million, with underlying EBITDA margins of 46.5%, impacted by higher fuel prices and Nigeria's lower contribution. However, EBITDA margins improved from 45.3% in Q1 ’25 to 47.3% in Q4’25 due to a more stable operating environment and cost efficiency programs. Airtel invested in its network, rolling out 2,583 new sites and approximately 3,300 kms of fibre to support increased data capacity.

CEO Sunil Taldar highlighted the company's strong operating performance, driven by continued network investment and improvements in digital platforms. This has increased digital inclusion, with a 20% growth in smartphone customers to 74.4 million, contributing to a 47.5% increase in data traffic. Airtel Money supports financial inclusion, with customers increasing by 17.3% to 44.6 million and transaction value increasing by 32% in constant currency to $136 billion. The Nigerian tariff adjustments also contributed to strong momentum in financial results.