27. Investments in subsidiaries
The details (principal place of operation/country of incorporation, principal activities and percentage ownership interest and voting power (direct/indirect) held by the Group) of subsidiaries are set out in note 33.
Summarised financial information of the principal subsidiaries having material non-controlling interests is as follows:
A. Airtel Tanzania Public Limited Company
Summarised financial position
As of | ||
|---|---|---|
31 March 2025 $m | 31 March 2024 $m | |
1 Includes share of goodwill of $18m (March 2024: $19m). | ||
Assets | ||
Non-current assets | 578 | 520 |
Current assets | 59 | 64 |
Liabilities | ||
Non-current liabilities | 290 | 250 |
Current liabilities | 196 | 191 |
Equity | 151 | 143 |
% of ownership interest held by NCI | 49% | 49% |
Accumulated NCI1 | 92 | 89 |
Summarised income statement
For the year ended | ||
|---|---|---|
31 March 2025 $m | 31 March 2024 $m | |
Revenue | 322 | 309 |
Net profit | 14 | 18 |
Other comprehensive loss | (4) | (16) |
Total comprehensive income | 9 | 2 |
Profit allocated to NCI | 7 | 9 |
Summarised cash flows
For the year ended | ||
|---|---|---|
31 March 2025 $m | 31 March 2024 $m | |
Net cash inflow from operating activities | 136 | 122 |
Net cash outflow from investing activities | (90) | (83) |
Net cash outflow from financing activities | (49) | (41) |
Net cash outflow | (3) | (2) |
| ||
Dividend paid to NCI during the year (included in cash flow from financing activities) | 4 | 6 |
B. Airtel Malawi plc
Summarised financial position
As of | ||
|---|---|---|
31 March 20251 $m | 31 March 2024 $m | |
1 Includes hyperinflationary impact on adoption of IAS 29. 2 includes share of goodwill of $112m (March 2024: $20m). | ||
Assets | ||
Non-current assets | 204 | 115 |
Current assets | 71 | 47 |
Liabilities | ||
Non-current liabilities | 88 | 64 |
Current liabilities | 110 | 106 |
Equity | 77 | (8) |
% of ownership interest held by NCI | 20% | 20% |
Accumulated NCI2 | 128 | 18 |
Summarised income statement
For the year ended | ||
|---|---|---|
31 March 20251 $m | 31 March 2024 $m | |
1 Includes hyperinflationary impact on adoption of IAS 29. | ||
Revenue | 172 | 164 |
Net profit/(loss) | 33 | (9) |
Other comprehensive income/(loss) | 49 | (8) |
Total comprehensive income/(loss) | 82 | (17) |
Profit/(loss) allocated to NCI | 7 | (2) |
Summarised cash flows
For the year ended | ||
|---|---|---|
31 March 2025 $m | 31 March 2024 $m | |
Net cash inflow from operating activities | 65 | 89 |
Net cash outflow from investing activities | (14) | (77) |
Net cash outflow from financing activities | (22) | (24) |
Net cash inflow/(outflow) | 29 | (12) |
| ||
Dividend paid to NCI during the year (included in cash flow from financing activities) | 0 | 5 |
C. Airtel Mobile Commerce B.V. sub-group (i.e., including subsidiaries of AMC BV)
Summarised financial position
As of | ||
|---|---|---|
31 March 2025 $m | 31 March 2024 $m | |
1 The NCI in AMCBV of 22.11% (March 2024: 22.11%) excludes the NCI of $6m (March 2024: $7m) in the subsidiaries within the AMCBV group (i.e. Tanzania, Niger and the Republic of the Congo). | ||
Assets | ||
Non-current assets | 80 | 52 |
Current assets | 1,434 | 1,086 |
Liabilities | ||
Non-current liabilities | 31 | 23 |
Current liabilities | 1,092 | 894 |
Equity | 391 | 220 |
% of ownership interest held by NCI1 | 22% | 22% |
Accumulated NCI1 | 85 | 47 |
Summarised income statement
For the year ended | ||
|---|---|---|
31 March 2025 $m | 31 March 2024 $m | |
Revenue | 990 | 806 |
Net profit | 305 | 248 |
Other comprehensive income/(loss) | 13 | (19) |
Total comprehensive income | 318 | 229 |
Profit allocated to NCI | 66 | 55 |
Summarised cash flows
For the year ended | ||
|---|---|---|
31 March 2025 $m | 31 March 2024 $m | |
Net cash inflow from operating activities | 596 | 482 |
Net cash inflow from investing activities | (49) | 102 |
Net cash outflow from financing activities | (195) | (174) |
Net cash inflow | 352 | 410 |
| ||
Dividend paid to NCI during the year (included in cash flow from financing activities) | 56 | 51 |