Millions of mobile subscribers in Nigeria and other emerging markets borrowed airtime worth $3.18 billion (about ₦4.61 trillion) on credit in 2025, according to the latest financial statements released by fintech firm Optasia.   The figures, first reported by Punch Newspapers, show that airtime advances increased by 12.3 per cent from $2.83 billion recorded in 2024, highlighting growing reliance on short-term digital credit products across Africa. Optasia disclosed that Africa remained its largest market, accounting for $2.99 billion, or 94.2 per cent, of total airtime credit disbursed during the year. Europe and Asia contributed $96.1 million, while the Middle East accounted for $87.7 million. The company, which partners with telecom operators and financial institutions to provide airtime advances and nano-loans, uses data analytics to assess subscribers’ eligibility and determine credit limits. It also assumes part of the repayment risk when customers fail to settle advances within agreed periods. Beyond airtime lending, Optasia reported a significant rise in nano-loan transactions. Its Mobile Financial Services segment facilitated loans worth $2.30 billion in 2025, more than double the $967.9 million recorded a year earlier. The growth in lending activity boosted the company’s financial performance. Revenue rose by 75.5 per cent to $265.36 million, while profit after tax increased to $43.13 million from $36.23 million in 2024. Total assets also more than doubled to $302.17 million. Africa generated $234.81 million, representing 88.5 per cent of the firm’s total revenue, reinforcing the continent’s position as its most important market. Optasia operates in more than 25 countries, including Nigeria, Ghana, South Africa, Egypt, Ethiopia, Pakistan, Bangladesh and the United Arab Emirates. In Nigeria, it runs through wholly owned subsidiaries Nairtime Nigeria Limited and Xtra MFS Nigeria Limited. The financial statements showed Nigeria remains a key market for the company. Its gross trade receivables in the country rose to $7.73 million in 2025, more than double the $3.80 million recorded in 2024, indicating increased transaction activity. The report also highlighted Optasia’s exposure to Nigeria’s financial system through naira-denominated credit facilities from local banks carrying interest rates of 30 per cent per annum, although the facilities remained unused at the end of 2025. However, the company’s dominance in Nigeria’s airtime credit market faces growing scrutiny. The Federal Government is considering measures aimed at opening the sector to more indigenous fintech firms to encourage competition and reduce capital flight. The debate intensified after reports suggested regulatory reforms could end Optasia’s 12-year dominance of the market. However, the Federal Competition and Consumer Protection Commission later denied involvement in alleged approvals of new operators and stated that the relevant lending regulations remain suspended following a court injunction. Despite regulatory uncertainty, Optasia’s results suggest strong demand for telecom-linked lending products across Africa. The company noted that rising mobile phone penetration and limited access to traditional banking continue to drive demand for airtime advances and nano-loans among underbanked populations. At the same time, credit risks are increasing. Optasia’s provision for expected credit losses on financial guarantee contracts climbed to $65.21 million in 2025, up from $33.42 million a year earlier.