Airtel Malawi, part of the Airtel Africa group that also runs Airtel Nigeria, grew revenue strongly in the first half of 2026, but a sharp rise in foreign exchange losses cut its profit by more than half, according to results reported by TechAfrica News.
The numbers (six months to 30 June 2026)
- Revenue: up 33.8% to K219.1 billion
- Data revenue: up 46% to K88.7 billion; voice up 26.5% to K109.5 billion
- Customers: up 9.3% to 9.1 million, with data customers up 12.7% to 2.9 million
- Average revenue per user: up 21.9% to K4,141 a month
- EBITDA: up 34.5% to K90.7 billion, a 41.4% margin
- Profit after tax: down 54.2% to K10.3 billion
What went wrong
Net finance costs rose 230% to K54.4 billion, mostly because of foreign exchange losses of K41.5 billion (up from K7.7 billion) linked to repaying foreign-currency debts. Operating costs also rose by a third because of higher fuel prices and network expansion.
The company more than doubled its spending on the network: capital expenditure rose 191% to K50.4 billion and it added 74 new sites. Smartphone use among its customers reached 34.3%. Cash fell to K24.4 billion from K82.4 billion at the start of the year, and the board did not declare an interim dividend, citing economic uncertainty.
Why it matters
The results mirror what Nigerian telecom operators went through during the naira’s steep fall: demand for data keeps rising fast, but debts and equipment priced in dollars can wipe out profits when the local currency weakens. Airtel Malawi named currency swings, fuel prices and poor harvests as its main risks, while saying it still sees attractive growth ahead.
Source: TechAfrica News.
