Airtel Africa mobile money trust hits $1.49B as customer base grows to 60.9M

Airtel Africa's mobile money trust balances reached $1.49 billion as of September 30, 2026, up 28.9% from $1.16 billion a year earlier, according to half-year results reported by Nairametrics. The telecom group's Airtel Money customer base grew 22.4% to 60.9 million from 49.8 million, lifting mobile money penetration across its African telco base to 31.4%. Total processed transaction value surged 46.4% to $130.1 billion, while mobile money segment revenue jumped 34.8% to $840 million.

The trust balances represent customer funds held in bank trust accounts — not Airtel's revenue. Active merchants more than doubled to 587,000 (up 85.5%), agents grew to 2.5 million (up 25.3%), and the MyAirtel app hit 14 million monthly active users, processing $7.7 billion in transactions. App penetration among smartphone users rose to 19.9% from 14.6%.

At the group level, total revenue rose 28.2% to $3.82 billion with profit after tax up 20.5% to $452 million. On the Nigerian Exchange, Airtel Africa shares closed flat at N6,300 on October 30 — the stock's 52-week high, up from a low of N2,497.

With digital financial services now contributing 5.4% of revenue (up from 4.3%), Airtel is effectively becoming a fintech player wrapped in a telco. For Nigerians using Airtel Money or considering it: the expanding agent and merchant network means more cash-in/out points and payment acceptance. For investors: the stock at 52-week highs reflects market confidence, but currency volatility across operating markets (especially Zambia) creates a gap between reported and constant-currency growth.

Will Airtel Money's agent density finally solve the "last mile" cash access problem for everyday users, or does the trust balance growth mainly reflect existing users transacting more?

SOURCE: https://nairametrics.com/2026/11/01/airtel-africas-mobile-money-trust-balances-hit-1-49-billion/