Mobile phone users across Nigeria and other emerging markets borrowed a staggering ₦4.61 trillion ($3.18 billion) in airtime credit in 2025, according to the latest financial report from fintech firm Optasia. The figure underscores the growing reliance on telecom-based lending services across Africa, where millions of consumers depend on small digital loans to stay connected.
Airtime Credit Growth
Optasia's consolidated financial statements for 2025 revealed that airtime credit issued through telecom operators rose by 12.3% from $2.83 billion in 2024 to $3.18 billion in 2025. Using the exchange rates contained in the report, this translated to approximately ₦4.61 trillion, up from about ₦4.38 trillion a year earlier.
Africa remained the dominant market, accounting for $2.99 billion, or 94.2% of all airtime credit issued during the year. Europe and Asia contributed $96.1 million, while the Middle East accounted for $87.7 million. The figures highlight how millions of consumers across Africa increasingly depend on small-value digital credit products, especially in countries where access to formal banking remains limited and rising living costs continue to strain household budgets.
Nano-Loans More Than Double
Beyond airtime advances, Optasia reported strong growth in nano-loan transactions. The company's Mobile Financial Services division facilitated nano-loans worth $2.30 billion in 2025, more than double the $967.9 million recorded the previous year. Africa accounted for $1.41 billion of the total loan value, representing 61.4%, while Europe and Asia contributed $888.9 million.
Optasia's technology platform helps telecom operators and financial institutions assess customer eligibility for credit through behavioral analysis and credit scoring. The company noted that the platform handles scoring, financial decisioning, and disbursements by analyzing subscribers' credit histories and other relevant data before determining how much credit can be granted.
Optasia also revealed that it shares some of the risks associated with the lending service. As part of the airtime credit service, the group commits to indemnify the mobile network operator for the amount of advance granted if the subscriber fails to pay within a specified period.
Revenue Jumps 75%
The rapid expansion of airtime lending and nano-loan services boosted Optasia's financial performance. Revenue rose by 75.5% to $265.36 million in 2025, up from $151.19 million in 2024. Mobile Financial Services generated $167.53 million in revenue, while airtime credit services contributed $96.86 million. Africa remained the company's largest revenue source, contributing $234.81 million, equivalent to 88.5% of total revenue.
Profit after tax increased to $43.13 million from $36.23 million, while total assets more than doubled to $302.17 million from $141.79 million. Optasia describes itself as an analytics technology services provider in the fintech sector, offering services to large mobile telecom operators to provide airtime/data credit and micro- and nano-cash loans to underbanked populations in emerging markets. The company operates in more than 25 countries, including Nigeria, South Africa, Ghana, Egypt, Ethiopia, Algeria, Pakistan, Bangladesh, Indonesia, Qatar, Brazil, Greece, and the United Arab Emirates.
Nigeria Remains a Key Market
The financial statements show that Nigeria continues to be one of Optasia's most important African markets. The company operates locally through two wholly owned subsidiaries: Nairtime Nigeria Limited and Xtra MFS Nigeria Limited. While Optasia did not break down revenue generated specifically from Nigeria, the report indicated that the country remains material to its business operations and foreign exchange exposure.
As of December 31, 2025, the company held ₦19.72 billion in naira-denominated assets and ₦357.09 million in naira liabilities, leaving a net naira exposure of ₦19.37 billion. The company noted that fluctuations in the naira could affect the value of its earnings, assets, and liabilities when converted into dollars.
Nigeria also recorded one of the strongest increases in trade receivables among Optasia's markets. Gross trade receivables linked to Nigerian operations rose by 103.6% to $7.73 million in 2025, compared with $3.80 million in 2024, suggesting a sharp rise in transaction activity.
The company further disclosed that it maintains local credit facilities in Nigeria, including an invoice discounting facility and a cash-backed term loan facility, both carrying interest rates of 30% per annum. However, neither facility had been utilized as of the end of 2025.
Rising Demand Comes with Higher Risks
The growth in digital lending has also increased credit risk exposure. Optasia's provision for expected credit losses on financial guarantee contracts climbed to $65.21 million in 2025 from $33.42 million a year earlier. Despite the increase in risk provisions, the company said demand for airtime advances and nano-loans remained strong across its markets.
Industry analysts say telecom-linked lending is becoming an increasingly important source of short-term financing in Africa, where mobile phone penetration is significantly higher than access to traditional banking services.
Regulatory Battle over Airtime Credit Market
The report comes as Nigeria's airtime credit market faces increasing regulatory scrutiny. Recent reports claimed that the Presidency supported efforts to open the airtime credit and data advance market to more indigenous fintech firms, potentially challenging Optasia's long-standing dominance in the sector. The reports alleged that the Federal Competition and Consumer Protection Commission (FCCPC) backed plans aimed at increasing competition, promoting local content, and reducing capital flight.
However, the FCCPC has publicly distanced itself from claims that it recommended new operators or submitted a list of approved fintech companies to the Presidency. The commission stated that it is not aware of and was not involved in the claims attributed to it. The commission also noted that implementation of the Digital, Electronic, Online, or Non-traditional (DEON) Consumer Lending Regulations 2025 remains suspended following an interim injunction granted by the Federal High Court in Lagos.
The dispute began earlier this year after MTN, Airtel, Glo, and T2mobile temporarily suspended airtime credit services following regulatory directives linked to the DEON framework. Although services have since resumed across major telecom networks, questions remain over the future regulatory structure of Nigeria's growing airtime lending market and the role indigenous fintech firms may play in it.
