Economy
Weaker Naira Shrinks Airtel Africa 2025 Revenue by 30.4% to $4.955bn
By Adedapo Adesanya
Top telecommunication service provider, Airtel Africa Plc, saw its revenue fall by 30.4 per cent to $4.955 billion, significantly impacted by derivative and foreign exchange losses, primarily in Nigeria.
According to a report released to the Nigerian Exchange (NGX) Limited on Thursday, the Profit After Tax (PAT) closed at $328 million for its year ended March 31, 2025, marking a return from an $89 million loss in the preceding year.
Nigeria’s persistent currency depreciation led to declines across all segments. Airtel saw its voice verticals fall by 36.9 per cent year-on-year, data fell by 26.2 per cent, and other services dropped 17.4 per cent year-on-year.
However, in constant currency, revenue grew by 36.4 per cent growth year-on-year, reflecting growth in voice (24.3 per cent in the same period), data (44.5 per cent), and other (58.7 per cent) revenue segments.
The revenue growth was driven by a 4.7 per cent increase in the total subscriber base to 53.32 million (with 1.17 million net additions in the last quarter of the company’s 2025 calender) and strong demand for data services, with data usage per subscriber rising 33.4 per cent year-on-year to 8.4 GB per month.
Airtel’s $4.955 billion grew 21.1 per cent in constant currency but declined by 0.5 per cent in reported currency as currency devaluation impacted reported revenues.
“Strong execution and the tariff adjustments in Nigeria contributed to a further quarter of accelerating growth, with Q4’25 revenue growth of 23.2% in constant currency, and 17.8% in reported currency as currency headwinds eased,” Airtel Africa said.
Across the Group, mobile services revenue grew by 19.6 per cent in constant currency, driven by voice revenue growth of 10.6 per cent and data revenue growth of 30.5 per cent and mobile money revenue grew by 29.9 per cent in constant currency.
EBITDA, which stands for Earnings Before Interest, Taxes, Depreciation, and Amortisation, and is used to access a company’s operating performance, declined by 5.1 per cent in reported currency to $2.3 billion with underlying EBITDA margins of 46.5 per cent compared to 48.8 per cent in the prior year, impacted by increased fuel prices and the lower contribution of Nigeria to the Group.
However, following a more stable operating environment and benefits from its cost efficiency programme, underlying EBITDA margins have expanded from 45.3 per cent in the first quarter of 2025 to 47.3 per cent in the last quarter of 2025.
Airtel Africa’s customer base grew by 8.7 per cent to 166.1 million, with its focus on digital inclusion supporting a 4.3 per cent increase in smartphone penetration to 44.8 per cent.
Data customers increased by 14.1 per cent to 73.4million, with data usage per customer increasing by 30.4 per cent to 7.0 GB, supporting data Average Revenue Per User (ARPU) growth of 15.4 per cent in constant currency.
Airtel Money agent network which offers enhanced digital offerings and expanded use cases contributed to a 17.3 per cent increase in mobile money subscribers to 44.6 million and a 11.4 per cent growth in constant currency ARPU.
Speaking on the performance, the chief executive of Airtel Africa, Mr Sunil Taldar, said, “We have reported another strong operating performance as our strategy continues to deliver against the significant opportunity that exists across our markets. The focus on our refreshed strategy has seen continued investment in the network while also driving improvements in our digital platforms and offerings to further enhance the customer experience.”
“An improving operating environment and focused execution contributed to strong momentum in our financial results with constant currency revenue growth peaking at 23.2% in Q4’25. Part of this acceleration in the last quarter has also been driven by the Nigerian tariff adjustments,” he added.
Looking ahead, he said – “We are making significant progress in our preparations for the Airtel Money IPO and remain committed to this objective.
“However, we are also mindful of evolving market conditions. Therefore, subject to these conditions, we anticipate a listing event in the first half of calendar year 2026.”
“The recent stability in the operating environment is encouraging, however we remain conscious of global developments that may impact our business. We will remain focused on delivering our strategy to transform the lives of our customers and support economic prosperity across our markets,” he added.
By Adedapo Adesanya
A cross-border payments solutions company, Grey has expanded its business banking platform to include US Dollar corporate accounts, bulk international payments, and USDC stablecoin support, all integrated into a single system.
The company is positioning itself as a low-cost, faster alternative to traditional international banking, particularly for businesses in emerging markets as it enables companies to open US Dollar accounts, receive global payments, and send payouts to 170+ countries, including bulk transfers, within minutes.
Grey aims to solve common cross-border payment challenges, particularly the high transfer costs that often range between 6 and 7 per cent of transaction value, prolonged settlement cycles that can stretch across several days, and the limited access many businesses face when trying to open and operate foreign currency accounts. In addition, companies frequently contend with hidden intermediary fees and poor foreign exchange transparency, both of which undermine cost predictability and effective cash flow management.
By integrating USD business accounts and USDC stablecoin functionality into its platform, Grey enhances its value proposition around faster settlement, clearer pricing structures, improved cost efficiency, and broader global accessibility. The expanded capabilities enable businesses to manage international transactions with greater speed, transparency, and operational control.
“Businesses may operate without borders today, but access to reliable global banking remains uneven, particularly for companies in high-growth markets,” said Mr Idorenyin Obong, Co-founder and Chief Executive Officer of Grey. “We’re closing that gap and enabling businesses to move money faster, with greater transparency and control, wherever their clients or partners are based.”
“When payments are delayed, or costs are unpredictable, growth stalls,” added Mr Joseph Femi Aghedo, Chief Operating Officer and Co-founder of Grey. “Grey eliminates those friction points, giving businesses a faster, simpler way to manage payroll, supplier payments, and partner payouts across borders. Adding USD and stablecoin capabilities makes these benefits accessible to even more customers.”
Established in Africa in 2020, Grey has a presence in key markets, including the United States, the United Kingdom, and Europe, and has recently expanded its services and operations into Latin America and Southeast Asia.
Since its inception, the company has consistently enhanced its services to empower digital nomads worldwide, regardless of location. Grey’s offerings include multi-currency accounts, low-cost international money transfers, a virtual USD card, expense management tools, and robust security measures.
By Aduragbemi Omiyale
A partnership designed to expand access to stablecoins and on-chain financial opportunities for everyday users and businesses has been entered into between Quidax and Lisk.
The partnership provides a critical gateway for the developer community, as builders on the Lisk network can now leverage Quidax’s robust digital asset infrastructure to access stablecoins and local currencies at competitive rates.
This institutional-grade infrastructure is designed to power “future-forward” financial products, ranging from neobanks and cross-border payment platforms to regional exchanges and global fintech solutions. It will also allow Quidax customers to trade and move value seamlessly using USDT, USDC, LSK, and Ether (ETH) on the Lisk network.
The collaboration will also accelerate the adoption of Web3 solutions that solve real-world financial challenges for millions of customers across Africa by combining Quidax’s deep local liquidity and compliant framework with Lisk’s scalable L2 technology.
In 2024, Quidax became the first crypto exchange to receive a provisional operating license from Nigeria’s Securities and Exchange Commission (SEC).
“The partnership with Lisk enables us to extend our platform to serve more people and cater to the increasing demand from products and services that want to integrate our stablecoin and digital assets product to build products across Africa,” the Chief Infrastructure Officer at Quidax, Mr Morris Ebieroma, said.
Also commenting, the Ecosystem Lead for Africa at Lisk, Ms Chidubem Emelumadu, said, “Africa represents one of the most critical frontiers for blockchain innovation, where the demand for reliable and inclusive financial tools is urgent.
“Our partnership with Quidax expands access to stablecoins and on-chain financial opportunities for everyday users and businesses. At the same time, it gives founders building on Lisk the critical infrastructure they need to create solutions that can scale meaningfully across the continent,” she added.
By Adedapo Adesanya
The Nigeria Customs Service (NCS) has urged freight forwarders to adopt its automated Licence and Permits Processing system to reduce the cost of doing business.
This advice was given by the Assistant Comptroller-General of Customs, Mr Muhammed Babadede, during a stakeholders’ engagement on automation held in Lagos on Monday.
He noted that the reform responds to longstanding demands for faster, more transparent and simpler procedures for industry stakeholders, disclosing that Comptroller-General of Customs, Mr Bashir Adeniyi, has approved the full automation of the service’s licences and permits processes.
“For years, stakeholders dealt with paperwork, long queues and uncertainty from manual processing. Those days are coming to an end.
“This sensitisation is across all zones. The goal is to ensure stakeholders understand the automated system before implementation,” Mr Babadede said.
He said automation would enable applications and renewals from offices or mobile phones, eliminating visits to customs formations, assuring stakeholders of a fair and consistent process, and reducing errors associated with manual documentation.
He said automation would improve record-keeping, supervision and service delivery without increasing pressure on officers.
The Deputy Comptroller-General, Tariff and Trade, CK Naigwan, also represented by Mr Babadede, reiterated management’s commitment to seamless implementation.
Meanwhile, the Comptroller of Customs for Licence and Permit Unit, Mrs Ngozika Anozie, praised the Comptroller-General for driving innovation within the Service, saying the automation aligns Customs procedures with global best practice and strengthens institutional efficiency.
According to her, the reform reflects the three-point agenda of the Chairman of the World Customs Organisation, Mr Adeniyi, centred on consolidation, collaboration and innovation.
She said the system would enhance the ease of doing business in the maritime sector and boost national revenue generation.
“Automation will cut business costs and reduce travel risks for stakeholders
“They will no longer travel repeatedly to Abuja, paying for transport, hotels and feeding to process licences and permits,” she said, adding that the platform would automatically reject fake documents and accept genuine submissions, curbing fraudulent practices.
“The CGC is determined to sanitise the system, and we are committed to achieving that objective,” Mrs Anozie said.
On his part, the Assistant Superintendent of Customs, Mr Ibrahim Usman, said the Licence and Permit Unit operates under the Tariff and Trade Department.
He explained that the unit ensures proper issuance of licences and permits and compliance with import regulations.
Mr Usman said all licences and permits expire on December 31 of their issuance year.
He added that the portal would become fully operational after nationwide sensitisation, with stakeholders duly informed.
Customs Area Controller, Tincan Island Command, Mr Frank Onyeka, thanked stakeholders for their continued support.
He urged them to take the exercise seriously to achieve seamless processing across Customs operations.
Stakeholders raised concerns about online payment integration and potential technical disruptions.
Officials addressed the questions and pledged continued engagement to ensure smooth implementation nationwide.
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