Francophone Africa – mobile services

There is a young, data-hungry population of around 200 million people in the seven countries in our Francophone Africa segment, and for the vast majority, mobile services are the first – and often only – way they can access connections to each other and the digital economy. Our smartphone penetration continues to grow, but at 43% is still low by global and African benchmarks, offering a clear opportunity for further expansion – provided we continue to ensure that customer experience remains our focus.

In 2024/25, we grew our customer base and revenues despite the continuing headwinds in several markets, including significant inflation in the DRC, fuel shortages and political disruption. We've met these challenges by reinforcing the resilience of our networks, leaning further into digital solutions in areas such as recharges and apps for our sales teams, and launching new products. We expanded our 4G network, in particular, with 641 new sites across the region reflecting the continued, and still unmet, demand for data. Our fibre network also grew by 244 km and we launched fibre-to-the-home (FTTH) services in our Seychelles market. Meanwhile, enterprise solutions for businesses in the oil and mining sectors who need fast, secure broadband and IT services are building momentum. All this has been supported by continued growth in our distribution infrastructure, with SIM and recharge outlets both expanding significantly.

Our focus on customers is bringing results. In 2024/25 we’ve welcomed 2.4 million new data customers and grown our overall customer base by 8.8%, bringing essential services and digital inclusion to more people and communities than ever.

Revenue grew by 7.2% in reported currency and by 7.9% in constant currency. In Q4’25, constant currency revenue growth accelerated to 12.5% from 8.5% in the prior quarter following a recovery in market trends and the benefits of sustained network investment as well as intensive focus on ‘go-to-market’ initiatives.

Voice revenue declined by 0.6% in constant currency as customer base growth of 8.8% was more than offset by a decline in voice ARPU reflecting interconnect rate reductions and increased competitive intensity during the period.

Data revenue grew by 24.1% in constant currency, supported by customer base growth of 23.5%. Our continued 4G network rollout resulted in an increase in total data usage of 44.2% and per customer data usage growth of 24.3%. Data usage per customer increased to 5.4 GB per month (up from 4.4 GB in the prior period), with smartphone penetration increasing 4.7% to reach 43.1%. Smartphone data usage per customer reached 6.5 GB per month compared to 5.4 GB per month in the prior period.

Underlying EBITDA at $505m declined by 1.5% and 0.8% in reported and constant currency, respectively. The underlying EBITDA margin declined to 38.8%, a decline of 342 basis points, reflecting an increase in fixed frequency fees in one market, rising energy costs combined with revenue growth pressure in some markets. The strong revenue performance in Q4’25 supported an increase in underlying EBITDA margins to 39.8% from 39.2% in Q4’24.

Operating free cash flow of $346m declined by 1.9% in constant currency due to the decline in underlying EBITDA and marginally higher capex.

We operate in an evolving legal and regulatory landscape. Relevant changes in our region this year include:

Mobile termination regulation (MTR)

Republic of the Congo
In October 2023, l‘Agence de régulation des postes et des communications électroniques du Congo Brazzaville (l’ARPCE) extended the asymmetric MTR rate of 7 CFA (Congolese franc) to terminate on Airtel Congo S.A.’s network and 5 CFA to terminate on MTN’s network for a period of 12 months to October 2024. In the meantime, the regulator has commissioned a cost study.

Licences

Chad
With effect from 9 April 2024, Airtel Chad was issued with a renewal of its 2G, 3G, 4G licences as well as the ISP licence. The licences are for a period of ten years at a cost of the CFA 54bn (approximately $89m).

Gabon
On 7 January 2025, Airtel Gabon obtained a global fixed operator authorisation (FTTX licence), granted for a period of ten years at a sum of CFA 3.5bn (approximately $5.8m). The FTTX licence will enable Airtel Gabon to provide high-speed Internet services using fibre to retail customers.

Spectrum

Niger
In July 2024, L'Autorité de Régulation des Communications Électroniques et de la Poste (ARCEP) granted Airtel Niger the opportunity to acquire 20 MHz of spectrum in the 2600 MHz band at an initial fee of $1.32m.

In August 2024, ARCEP granted a 12-month extension of the temporary allocation of 5 MHz in the 1800 band until July 2025. Airtel Niger is pursuing the conversion of this temporary allocation of spectrum into a permanent allocation at the end of the 12 months period.

On 31 October 2024, Airtel Niger received a decision from ARCEP allocating radio frequency for the fixed terrestrial service operating in the 6G Hz band (with a bandwidth of 40 MHz) for voice and data communications. This acquisition will bring additional backbone capacity (from 1.3 Gbps to 7.2 Gbps) and improve quality of service. It can also be used as an alternative to fibre on certain routes. Airtel Niger will be required to pay an annual fee of CFA 66,467,520 (approximately $109,000).

Tax developments

Democratic Republic of the Congo
Based on the Finance Act 2025, mobile telecom operators need to consider the deferred revenue as part of taxable income which will be subject to corporate income tax for the year.