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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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Airtel Africa - Nigerian price hike powers 15% data ARPU growth

July 2025

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • AAF
  • Price:
  • 177.5p
The shares initially fell as the group announced a delay to its Airtel Money IPO to H1 26 but finals were strong and they have subsequently rebounded to new highs of 186p.  For the year ended March revenues grew 21% in constant currency to US$4,955m but declined 0.5% after currency devaluations. However, the devil is in the detail that disguised improving momentum in the fourth quarter with revenues +17.8% year-on-year, a remarkable recovery from +2.4% in Q3 and minus 2.6% in Q2. The blow-out Q4 was driven by its largest territory, Nigeria, achieving revenue growth +40%, boosted by the regulator’s massive 50% price increase for mobile services (a nod to the devaluation effects increasing operating costs like power), which didn’t h ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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