Airtel Africa on Friday delayed the planned initial public offering ​of its mobile money business to the second half of 2026 and ​forecast a ​near-term margin squeeze due to higher costs arising from the ongoing U.S.-Israeli war against Iran.

The war has triggered an unprecedented ⁠crunch in crude supplies from the Middle East and upended supply chains, raising energy and logistics costs for companies everywhere, triggering forecast cuts, project delays and cost-cutting drives.

Several firms have also ​delayed IPOs ‌as the war ⁠drives market volatility.

The ⁠African-focussed telecoms group said that market conditions were now unfavourable, while rising ​energy costs were also likely to weigh on ‌Airtel Africa's near-term core profit margins.

"We have ⁠made good progress and remain committed to the listing as market conditions allow," it said in a statement.

The company had earlier planned to list Airtel Money in the first half of 2026. The unit is its third-largest business, contributing 21.1% of total revenue.

For the year ended on March 31, the group posted core profit of $3.16 billion on total revenue ‌of $6.42 billion, beating market expectations of $3.13 billion and $6.36 billion, respectively, ⁠according to a company-compiled poll.

The operator's fiscal ​2026 results benefited from a strong demand for mobile networks, adoption of new digital technologies and artificial intelligence.

Kenyan telecoms group Safaricom on ​Thursday posted results ‌also above market expectations, backed by strong ⁠demand.
Reuters