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Airtel Money processes $245bn as Nigeria tops mobile money growth – Technology Times
Airtel Africa’s mobile money platform processed more than $245 billion in annualised transaction value (TPV) during the first quarter of its 2027 financial year, underscoring the rapid expansion of digital payments across Africa and highlighting Nigeria as one of the company’s fastest-growing mobile money markets.
The results reinforce the growing convergence between telecommunications and financial services as mobile network operators increasingly position themselves at the centre of Africa’s digital economy, using their extensive customer networks to expand financial inclusion, digital commerce and cashless payments.
According to Airtel Africa’s trading update for the quarter ended June 30, 2026, Airtel Money recorded strong growth across virtually every major performance indicator, including customers, transaction volumes, revenue and user engagement.
The mobile money business processed more than $245 billion in annualised transaction value, representing a 51.5% increase in reported currency and 34.0% growth in constant currency, demonstrating continued expansion of digital financial transactions across the company’s 14 African markets.
The telecoms group that owns Airtel Nigeria, the nation’s second largest mobile phone company by subscribers, also reported that Airtel Money’s customer base expanded by 23.3% in reported terms to 56.5 million users, while the comparable constant-currency measure showed 16.1% growth to 46.8 million active customers, reflecting sustained adoption of mobile financial services despite currency movements across several African markets.
Airtel Money crosses 56.5 million users
The telecoms group that owns Airtel Nigeria, the nation’s second largest mobile phone company by subscribers, also reported that Airtel Money’s customer base expanded by 23.3% in reported terms to 56.5 million users, while the comparable constant-currency measure showed 16.1% growth to 46.8 million active customers, reflecting sustained adoption of mobile financial services despite currency movements across several African markets.
Revenue from Airtel Money increased 38.9% in reported currency and 25.8% in constant currency, reaching $404 million, making the fintech business one of the fastest-growing segments within Airtel Africa’s operations.
The performance further strengthened Airtel Money’s strategic importance to the Group, with the platform contributing 21.8% of Airtel Africa’s total revenue during the quarter.
The latest results illustrate how Airtel Money has evolved from a basic mobile wallet into a comprehensive digital financial services platform supporting payments, transfers, savings, lending, insurance and merchant transactions for millions of customers across Africa.
Nigeria accelerates mobile money growth
Although East Africa remains Airtel Money’s largest market, Nigeria delivered one of the fastest growth rates during the reporting period.
Airtel Africa reported that Airtel Money Nigeria’s revenue surged 153.2% year-on-year to $5 million, while its customer base more than doubled from 1.5 million to 3.4 million users.
The performance reflects growing acceptance of telecom-led financial services in Nigeria, where mobile money adoption has historically lagged East African markets but is now gaining momentum following regulatory reforms, rising smartphone ownership and increased consumer demand for digital payment solutions.
Nigeria remains Airtel Africa’s largest telecommunications market by revenue, making the rapid expansion of Airtel Money strategically significant for both the company and the country’s digital economy.
The strong growth comes as Nigeria’s financial services ecosystem undergoes rapid transformation driven by fintech innovation, expanding broadband connectivity and increasing smartphone adoption.
With millions of Nigerians already relying on mobile devices for banking, payments, remittances and e-commerce, telecommunications operators are increasingly leveraging their nationwide distribution networks to extend financial services beyond traditional banking channels.
This model, industry analysts say, is particularly important for underserved rural communities where access to conventional banking infrastructure remains limited.
Digital payments become growth engine
Airtel Africa attributed Airtel Money’s performance to stronger customer adoption, broader product offerings and increased engagement across its expanding digital payments ecosystem.
“Our focus on deepening financial inclusion through increased customer adoption, broader use cases and a stronger digital payments ecosystem enabled higher usage and facilitated continued ARPU growth, reinforcing Airtel Money’s growing role as a trusted digital financial services provider,” the company said.
The quarter’s performance suggests customers are using Airtel Money for far more than person-to-person transfers.
Increasing numbers of subscribers now rely on the platform for:
- Merchant payments
- Utility bill settlements
- Airtime and data purchases
- Cross-border remittances
- Bank-to-wallet transfers
- Savings products
- Digital lending
- Insurance services
This broadening range of financial services is helping Airtel Money deepen customer engagement while increasing transaction frequency and average revenue per user.
Another indicator of Airtel Money’s growing maturity is the rise in customer activity.
The company reported that average processed value per customer increased by 13% to $371 per month, which it attributed to “enhanced ecosystem and increased user engagement.”
The higher transaction value suggests existing customers are conducting more financial activities through Airtel Money rather than merely opening wallets.
This trend is particularly significant because increased engagement typically translates into stronger customer retention, higher revenue and broader adoption of value-added financial products.
According to Airtel Africa, the platform’s continued expansion is creating a stronger digital financial ecosystem that supports consumers, merchants and businesses alike.
CEO highlights digital transformation
Commenting on the results, Sunil Taldar, CEO of Airtel Africa, said continued investment in digitalisation was strengthening every part of the company’s business.
“As we continue to digitise our business, we are streamlining customer journeys, increasing digital adoption and harnessing data and AI to improve service delivery and support a strong, sustainable growth profile.”
Taldar said Airtel Money continues to strengthen financial inclusion while creating new growth opportunities across Africa.
“Airtel Money continues to expand financial inclusion across our markets and unlock new growth vectors. Annualised TPV in excess of $245bn increased 51.5%, reflecting the strength of engagement across the ecosystem, as the suite of products continues to expand and digital adoption underpins the customer experience.”
His comments underscore Airtel Africa’s strategy of building an integrated digital ecosystem in which telecommunications, mobile broadband, artificial intelligence and financial services reinforce one another to drive long-term growth.
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BREAKING: Nigeria’s Golden Grip Tightens! Riluwan Idris Powers to Heavyweight Gold as Team Nigeria’s Medal Haul Rises to Six in Glasgow
Team Nigeria’s dominance in para powerlifting at the Glasgow 2026 Commonwealth Games continued in spectacular fashion on Friday night as Riluwan Idris powered his way to a magnificent gold medal in the Men’s Heavyweight event, extending Nigeria’s remarkable run at the SEC Armadillo.
Idris produced a commanding display throughout the competition, finishing with 132.8 points to clinch the Commonwealth title ahead of England’s Matthew Harding, who settled for silver with 131.0 points. Malaysia’s Nicodemus Manggoi Moses completed the podium with 120.3 points, while India’s Sudhir, the defending Commonwealth champion, finished fourth on 114.1 points.
Read Also: Just-In: Boxing Setback for Team Nigeria as Abdulwahab Crashes Out After Defeat to Uganda’s Batte
The Nigerian strongman kept his composure under pressure, delivering when it mattered most to hand Team Nigeria yet another memorable victory in what has become an extraordinary opening day of competition.
Sports247, reporting from Glasgow, witnessed jubilant celebrations inside the SEC Armadillo as Nigerian coaches, teammates and supporters erupted after Idris was confirmed as the new Commonwealth champion. The victory further underlined Nigeria’s reputation as the undisputed powerhouse of Commonwealth para powerlifting—a status the nation has built over the years with consistent medal-winning performances.
Idris’ triumph came just hours after Folashade Oluwafemiayo shattered the world record to win the Women’s Heavyweight title, with Rita Ferdinand claiming silver. Earlier in the day, Esther Nworgu won gold with a Commonwealth Games record in the Women’s Lightweight event, Esther Oyema added silver, while Roland Ezuruike also secured silver in the Men’s Lightweight competition.
The latest success means Team Nigeria has now collected an astonishing six medals from para powerlifting alone on the opening day, once again proving why the country remains the benchmark in the sport at the Commonwealth Games.
Men’s Heavyweight Para Powerlifting – Final Standings
🥇 Riluwan Idris (Nigeria) – 132.8 points
🥈 Matthew Harding (England) – 131.0 points
🥉 Nicodemus Manggoi Moses (Malaysia) – 120.3 points
4️⃣ Sudhir (India) – 114.1 points
5️⃣ Tahiru Haruna (Ghana) – 112.0 points
DNF Bryan Junency Gustin (Malaysia)
Team Nigeria medal table – Glasgow 2026 Commonwealth Games
Medal Total
🥇 Gold 3
🥈 Silver 3
🥉 Bronze 0
Total 6
Nigeria’s medal winners
🥇 Riluwan Idris – Men’s Heavyweight Para Powerlifting (132.8 points)
🥇 Folashade Oluwafemiayo – Women’s Heavyweight Para Powerlifting (World Record)
🥈 Rita Ferdinand – Women’s Heavyweight Para Powerlifting (World Record)
🥇 Esther Nworgu – Women’s Lightweight Para Powerlifting (Commonwealth Games Record)
🥈 Esther Oyema – Women’s Lightweight Para Powerlifting
🥈 Roland Ezuruike – Men’s Lightweight Para Powerlifting
Sports247 Medal Watch
🥇 Gold: 3
🥈 Silver: 3
🥉 Bronze: 0
Overall: 6 medals
With three gold medals already secured and several medal events still to come, Team Nigeria has made an emphatic statement on the opening day in Glasgow, taking significant strides toward the National Sports Commission’s target of 16 to 20 gold medals. Sports247 will continue to bring readers breaking news, exclusive interviews and live reports as Nigeria’s pursuit of Commonwealth glory gathers momentum.
Governor Alex Otti of Abia State has backed the proposed 13.1million dollars Compressed Natural Gas (CNG) project, saying it aligns with the state’s industrialisation agenda and would strengthen clean energy and manufacturing development.
The project, proposed by Earthoc Group and its partners, involves the establishment of a 14.13 million Standard Cubic Feet Per Day (MMSCFD) Compressed Natural Gas (CNG) mother station at Owaza in Ukwa West Local Government Area.
The project is focused on boosting gas utilisation and supporting industrial growth in the state.
Speaking during a meeting at Nvosi, Isiala Ngwa South Local Government Area, on Thursday with the investors, Mr Otti said Owaza has proven commercial gas reserves, with exploration and production activities already being undertaken by different oil companies.
He described the location as ideal for the project because of its abundant gas resources and said the investment fitted into the state’s vision of building an industrial economy.
Mr Otti said the proposed project aligned with the state’s industrialisation agenda, noting that the Abia Industrial and Innovation Park (AIIP), where several manufacturers had begun establishing operations, would provide a suitable location for the investment.
He said the state government would facilitate discussions on the company’s request for about five hectares of land within the AIIP and work with the investors on the proposed Public-Private Partnership (PPP) arrangement.
Mr Otti said Abia’s electric buses were powered by the uninterrupted electricity supplied by Aba Power Limited to Aba North, Aba South and seven other local government areas since February 2024.
He said the state government initially procured 20 electric buses, while another 20 had arrived, with an additional 30 expected before the end of September.
The governor, however, said CNG vehicles remained relevant because they were cheaper to operate and produced lower emissions than vehicles powered by internal combustion engines.
According to him, consumers would continue to have different transportation preferences, making both electric and CNG-powered vehicles important in the energy transition.
Mr Otti commended the investors and their partners for choosing Abia and expressed optimism that the proposed investment would attract more businesses to the state.
He also assured the delegation that land allocation for their automobile business would not pose a challenge, expressing hope that construction of the proposed facilities would commence soon.
Why Abia
Earlier, the Executive Director of Earthoc Group, Odim Kalu, said the company planned to invest about 13.1 million dollars in developing the 14.13 MMSCFD CNG mother station in Owaza.
Mr Kalu said the project would leverage the area’s abundant gas resources and position Abia as a major hub for compressed natural gas infrastructure in the South-east.
He said his company, which operates in marine logistics, support services and the oil and gas sector, ventured into CNG conversion following the federal government’s Presidential CNG Initiative introduced in 2023.
According to him, the company began converting petrol and diesel-powered vehicles, trucks and generators to CNG but identified the shortage of refuelling infrastructure, particularly in southern Nigeria, as a major obstacle to wider adoption.
He said the company subsequently partnered with a Chinese firm to construct CNG mother and daughter stations to bridge the infrastructure gap.
Mr Kalu said frequent complaints by motorists travelling between Port Harcourt and Enugu over the absence of CNG refilling stations in Abia informed the company’s decision to invest in the state.
“We have completed about 99 per cent of the preparatory work and are ready to commence the project.
“Our vision is to position Abia as the first integrated CNG industrial hub in the South-east, where there are currently no CNG mother stations,” he said.
Mr Kalu said the proposed facility would provide cleaner and more affordable energy for industries and the transport sector while reducing carbon emissions.
ALSO READ: Abia, neighbouring states in talks for regional railway project – Otti
He described Abia as an ideal investment destination because of its strategic location, growing industrial base, expanding demand for clean energy, gas deposits in Owaza and the state government’s commitment to industrialisation and job creation.
The executive director said that although the state had invested significantly in electric vehicles, CNG remained a complementary and cost-effective energy solution for commercial transportation and industries.
He said the project would create jobs, stimulate industrial growth and lower energy costs for businesses.
Earlier, the Director of Drivemart Automobiles, Chukwudalu Umeobi, said his company and its partners were seeking collaboration with the Abia State Government to develop the automobile and CNG sectors in the state.
Mr Umeobi, who is also a partner with Chery Group, an international Chinese automobile brand, said the company was in Abia to introduce its operations and explore areas of partnership with the state government.
He said Cherry Group was involved in the distribution, assembly and production of Cherry vehicles in Nigeria as part of efforts to support the growth of the country’s automobile industry.
According to him, the delegation included representatives of Earthoc Group, Fuelbuddy Nigeria and Unity Providus Bank, all partnering on initiatives to advance CNG infrastructure and clean energy solutions.
Mr Umeobi said that although Abia had made significant investments in electric vehicles, CNG offered a more affordable alternative for many users and could complement the state’s clean energy drive.
He said the delegation was in the state to present its proposals and explore investment opportunities with the state government.
(NAN)
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