Optasia, a South African company that provides airtime credit services to major Nigerian telecom operators and banks, has experienced a significant decline in its revenue from the Nigerian market. The company reported that airtime lending revenue fell below 4% in Q2 2026, compared to approximately 14% of total revenue for the entire year of 2025.
The downturn is attributed to regulatory changes and increased competition within Nigeria’s digital consumer lending landscape. In April 2026, the Federal Competition and Consumer Protection Commission (FCCPC) introduced new regulations under the Digital and Non-Traditional Consumer Lending (DEON) Rule.
As airtime credit services fall under consumer lending, operations were temporarily paused nationwide to comply with these new rules. During this period, telecom operators suspended services while recovering outstanding amounts from previous loans. The suspension gradually ended as companies aligned with the regulations, with full restoration confirmed by Optasia on June 24, 2026.
Optasia operates in Nigeria through its Nairtime platform, serving as the credit engine behind major mobile carriers like MTN, Airtel, and Globacom. With over 40 million Nigerians relying on airtime lending services valued at $215-$287 million, this market represents a significant revenue opportunity for telecom operators.
Beyond regulatory challenges, Optasia now faces increased competition following the FCCPC’s approval of five new airtime and data lenders. This shift from an exclusive provider model to a multi-provider setup means Optasia must compete directly with other credit service providers for market share.
Despite these headwinds in Nigeria, Optasia reported overall group revenue growth of 16.7% in its airtime credit services division, reaching $51.1 million in H1 2026. Total group profit increased by 58.3% year-on-year to $36.9 million, driven largely by an 87.3% rise in mobile financial service revenue.
The company remains confident in its competitive position, citing its proprietary risk-scoring algorithms and technology as key differentiators while maintaining full compliance with regulatory requirements.