Airtel Africa has confirmed that the London Stock Exchange is its preferred listing venue for Airtel Money in 2026, as the group looks to unlock value from its fast-growing fintech business.
The highly anticipated listing aims to maximise market opportunities, with analysts reportedly anticipating a valuation of around $10 billion.
The announcement came as the telecoms operator reported strong first-quarter (Q1) results on Thursday, with surging data usage and mobile money transactions driving double-digit revenue growth across its markets.
The group reported revenue of $1.85 billion, up 31% in reported currency and 21.1% in constant currency, underscoring robust demand for digital and financial services.
Mobile money remained a standout performer, reinforcing its role as a key growth engine. Total transaction value reached an annualised $245 billion, up 51.5%, while the customer base grew 23.3% to 56.5 million users.
"Our focus on deepening financial inclusion through increased customer adoption, broader use cases and a stronger digital payments ecosystem enabled higher usage and facilitated continued average revenue per user growth, reinforcing Airtel Money's growing role as a trusted digital financial services provider," the company said.
Sunil Taldar, CEO of Airtel Africa, said the company is leveraging digital platforms, data and artificial intelligence to enhance customer experience and support long-term growth.
"We have started this year with another pleasing performance. Our continued focus on the customer experience translated into accelerating customer base growth across all business segments," he said.
Taldar said a London listing would provide access to a broader international investor base and support the telco's ambition to unlock long-term value from one of Africa's leading fintech platforms.
Data usage per customer rose from 7.8GB to 10.6GB per month, driving a 56.3% increase in network traffic, while smartphone penetration reached 51%, reflecting continued digital adoption.
Accelerated network investment drove capital expenditure (capex) of US$389 million, up from $121 million in the corresponding period last year.
"Supported by an elevated pace of deployment, we added more than 920 sites during the quarter, our highest first-quarter site rollout, while further expanding our fibre network to 82,100km," the company said.
Airtel's cost-efficiency programme supported EBITDA margin resilience, with the margin remaining at 50.1% in Q1.
However, the company warned that higher energy costs linked to geopolitical developments could increase inflationary pressures and weigh on margins in the near term.
Despite this outlook, the operator said its investment programme remains on track, with spending brought forward to support demand and capture growth opportunities linked to Africa's digital transformation.
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