The details (principal place of operation/country of incorporation, principal activities and percentage ownerships interest and voting power (direct/indirect) held by the Group) of subsidiaries are set out in note 36.
Summarised financial information of the principal subsidiaries having material non-controlling interests (‘NCI’) is as follows:
A. Airtel Tanzania Public Limited Company
Summarised financial position
As of | ||
|---|---|---|
31 March 2026 $m | 31 March 2025 $m | |
Assets | ||
Non-current assets | 662 | 578 |
Current assets | 63 | 59 |
Liabilities | ||
Non-current liabilities | 302 | 290 |
Current liabilities | 257 | 196 |
Equity | 166 | 151 |
% of ownership interest held by NCI | 49% | 49% |
Accumulated NCI (including goodwill) | 100 | 92 |
Summarised income statement
For the year ended | ||
|---|---|---|
31 March 2026 $m | 31 March 2025 $m | |
Revenue | 389 | 322 |
Net profit | 15 | 14 |
Other comprehensive income/(loss) | 3 | (4) |
Total comprehensive income | 18 | 9 |
Net profit allocated to NCI | 7 | 7 |
Summarised cash flows
For the year ended | ||
|---|---|---|
31 March 2026 $m | 31 March 2025 $m | |
Net cash inflow from operating activities | 130 | 136 |
Net cash outflow from investing activities | (64) | (90) |
Net cash outflow from financing activities | (67) | (49) |
Net cash outflow | (1) | (3) |
| ||
Dividend paid to NCI during the year (included in cash flow from financing activities) | 2 | 4 |
B. Airtel Malawi plc
Summarised financial position
As of | ||
|---|---|---|
31 March 2026 $m | 31 March 2025 $m | |
Assets | ||
Non-current assets | 272 | 204 |
Current assets | 65 | 71 |
Liabilities | ||
Non-current liabilities | 118 | 88 |
Current liabilities | 128 | 110 |
Equity | 91 | 77 |
% of ownership interest held by NCI | 20% | 20% |
Accumulated NCI (including goodwill) | 130 | 128 |
Summarised income statement
For the year ended | ||
|---|---|---|
31 March 2026 $m | 31 March 2025 $m | |
Revenue | 226 | 172 |
Net profit | 14 | 33 |
Other comprehensive income | 24 | 49 |
Total comprehensive income | 37 | 82 |
Net profit allocated to NCI | 3 | 7 |
Summarised cash flows
For the year ended | ||
|---|---|---|
31 March 2026 $m | 31 March 2025 $m | |
Net cash inflow from operating activities | 64 | 65 |
Net cash outflow from investing activities | (44) | (14) |
Net cash outflow from financing activities | (47) | (22) |
Net cash (outflow)/inflow | (27) | 29 |
| ||
Dividend paid to NCI during the year (included in cash flow from financing activities) | 3 | 0 |
C. Airtel Mobile Commerce B.V. sub-group (i.e., including subsidiaries of AMC BV)
Summarised financial position
As of | ||
|---|---|---|
31 March 2026 $m | 31 March 2025 $m | |
1 The NCI in AMCBV of 22.15% (March 2025: 22.11%) excludes the NCI of $9m (March 2025: $6m) in the subsidiaries within the AMCBV group (i.e. Tanzania, Niger and the Republic of the Congo). | ||
Assets | ||
Non-current assets | 107 | 80 |
Current assets | 2,093 | 1,434 |
Liabilities | ||
Non-current liabilities | 36 | 31 |
Current liabilities | 1,622 | 1,092 |
Equity | 542 | 391 |
% of effective ownership interest held by NCI1 | 22.15% | 22.11% |
Accumulated NCI | 118 | 85 |
Summarised income statement
For the year ended | ||
|---|---|---|
31 March 2026 $m | 31 March 2025 $m | |
Revenue | 1,346 | 990 |
Net profit | 373 | 305 |
Other comprehensive income | 28 | 13 |
Total comprehensive income | 401 | 318 |
Net profit allocated to NCI1 | 77 | 66 |
1 The Net profit allocated to NCI of $77m (March 2025: $66m) excludes the NCI of $25m (March 2025: $20m) in the subsidiaries within the AMCBV group (i.e. Tanzania, Niger and the Republic of the Congo).
Summarised cash flows
For the year ended | ||
|---|---|---|
31 March 2026 $m | 31 March 2025 $m | |
Net cash inflow from operating activities | 799 | 596 |
Net cash outflow from investing activities | (125) | (49) |
Net cash outflow from financing activities | (292) | (195) |
Net cash inflow | 382 | 352 |
| ||
Dividend paid to NCI during the year (included in cash flow from financing activities) | 80 | 56 |