… Africa Accounts For 94% of $3.18bn Total
…Rising Hardship Fuels Surge In Telecom-Based Lending
Daud Olatunji
Mobile phone users in Nigeria and other emerging markets borrowed airtime worth $3.18bn (about N4.61tn) on credit in 2025, underscoring growing reliance on short-term digital lending amid worsening economic conditions.
This was disclosed in the 2025 consolidated financial statements of fintech firm, Optasia, which showed that airtime advances rose by 12.3 per cent from $2.83bn recorded in 2024.
The report indicated that Africa remained the dominant market, accounting for $2.99bn or 94.2 per cent of total airtime credit disbursed during the period, compared to $2.53bn in the previous year. Europe and Asia contributed $96.1m, while the Middle East accounted for $87.7m.
The figures highlight increasing dependence on telecom-based credit services by millions of users, particularly in economies like Nigeria where access to formal financial services remains limited and household purchasing power continues to weaken.
Findings showed that despite the strong growth in dollar terms, the naira value of airtime credit rose at a slower pace, reflecting relative currency appreciation, with the exchange rate closing at N1,450.58/$ in 2025 from N1,547.30/$ in 2024.
Optasia explained that its platform enables telecom operators to extend airtime credit by analysing subscribers’ behaviour, usage patterns and credit history to determine eligibility and credit limits.
The company said it also shares in the credit risk, noting that it indemnifies mobile network operators where subscribers fail to repay advances within a specified period.
Beyond airtime borrowing, nano-loan transactions surged significantly, more than doubling to $2.30bn in 2025 from $967.9m in 2024. Africa accounted for $1.41bn, representing 61.4 per cent of the total.
The surge in digital lending boosted the firm’s financial performance, with revenue rising by 75.5 per cent to $265.36m, driven largely by mobile financial services which contributed $167.53m, while airtime credit services generated $96.86m.
Profit after tax increased to $43.13m from $36.23m in the previous year, while total assets more than doubled to $302.17m.
Nigeria emerged as a key market for the firm, with gross trade receivables rising by 103.6 per cent to $7.73m, indicating increased transaction volumes and outstanding balances linked to its operations in the country.
However, the report flagged Nigeria as a major foreign exchange risk market for the company, with net naira exposure standing at N19.37bn as of December 2025, although this represented a decline from N25.03bn recorded in 2024.
Optasia added that a five per cent movement in exchange rate would impact its equity by $668,000, reflecting ongoing sensitivity to currency fluctuations.
The rapid expansion of telecom-linked lending also heightened credit risks, as provisions for expected credit losses rose sharply to $65.21m in 2025 from $33.42m in the previous year.
Meanwhile, regulatory uncertainty continues to trail Nigeria’s airtime credit sector, following moves by the Federal Government to open the market to local fintech firms and promote competition.
The Federal Competition and Consumer Protection Commission has, however, denied reports linking it to the approval of new operators, stating that it remains bound by a court order suspending enforcement of the Digital, Electronic, Online, or Non-traditional Consumer Lending Regulations 2025.
The controversy had earlier disrupted airtime credit services after telecom operators temporarily suspended offerings in compliance with regulatory directives before gradually restoring services nationwide.
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