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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaf_DerivativeAndForeignExchangeLossesNigerianNaira" xml:lang="en">Derivative And Foreign Exchange Losses Nigerian Naira</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaf_DerivativeAndForeignExchangeLossesNigerianNaira" xml:lang="en">Derivative and foreign exchange losses nigerian naira.</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaf_DerivativeAndForeignExchangeLossesOtherCurrencies" xml:lang="en">Derivative And Foreign Exchange Losses Other Currencies</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaf_DerivativeAndForeignExchangeLossesOtherCurrencies" xlink:to="lab_aaf_DerivativeAndForeignExchangeLossesOtherCurrencies" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaf_DerivativeAndForeignExchangeLossesOtherCurrencies" xml:lang="en">Derivative and foreign exchange losses other currencies.</label>
<loc xlink:type="locator" xlink:href="254900ZNZDQL6OWQH623-2024-03-31.xsd#aaf_ExceptionalItemsNet" xlink:label="loc_aaf_ExceptionalItemsNet" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaf_ExceptionalItemsNet" xml:lang="en">Exceptional Items Net</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaf_ExceptionalItemsNet" xlink:to="lab_aaf_ExceptionalItemsNet" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaf_ExceptionalItemsNet" xml:lang="en">Exceptional items net.</label>
<loc xlink:type="locator" xlink:href="254900ZNZDQL6OWQH623-2024-03-31.xsd#aaf_ExceptionalItemsNetBeforeTax" xlink:label="loc_aaf_ExceptionalItemsNetBeforeTax" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaf_ExceptionalItemsNetBeforeTax" xml:lang="en">Exceptional Items Net Before Tax</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaf_ExceptionalItemsNetBeforeTax" xlink:to="lab_aaf_ExceptionalItemsNetBeforeTax" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaf_ExceptionalItemsNetBeforeTax" xml:lang="en">Exceptional items net before tax.</label>
<loc xlink:type="locator" xlink:href="254900ZNZDQL6OWQH623-2024-03-31.xsd#aaf_AccessCharges" xlink:label="loc_aaf_AccessCharges" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaf_AccessCharges" xml:lang="en">Access Charges</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaf_AccessCharges" xlink:to="lab_aaf_AccessCharges" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaf_AccessCharges" xml:lang="en">Access charges.</label>
<loc xlink:type="locator" xlink:href="254900ZNZDQL6OWQH623-2024-03-31.xsd#aaf_LicenceFeeOrSpectrumUsageCharges" xlink:label="loc_aaf_LicenceFeeOrSpectrumUsageCharges" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaf_LicenceFeeOrSpectrumUsageCharges" xml:lang="en">Licence Fee Or Spectrum Usage Charges</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaf_LicenceFeeOrSpectrumUsageCharges" xlink:to="lab_aaf_LicenceFeeOrSpectrumUsageCharges" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaf_LicenceFeeOrSpectrumUsageCharges" xml:lang="en">Licence fee/spectrum usage charges.</label>
<loc xlink:type="locator" xlink:href="254900ZNZDQL6OWQH623-2024-03-31.xsd#aaf_NetworkOperatingExpenses" xlink:label="loc_aaf_NetworkOperatingExpenses" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaf_NetworkOperatingExpenses" xml:lang="en">Network Operating Expenses</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaf_NetworkOperatingExpenses" xml:lang="en">Network operating expenses.</label>
<loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OperatingExpense" xlink:label="loc_ifrs-full_OperatingExpense" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_ifrs-full_OperatingExpense" xml:lang="en">Operating expense</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_ifrs-full_FinanceIncome" xml:lang="en">Finance income</label>
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<loc xlink:type="locator" xlink:href="254900ZNZDQL6OWQH623-2024-03-31.xsd#aaf_TotalIncome" xlink:label="loc_aaf_TotalIncome" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaf_TotalIncome" xml:lang="en">Total Income</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_aaf_TotalIncome" xml:lang="en">Total Income</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaf_TotalIncome" xlink:to="lab_aaf_TotalIncome" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaf_TotalIncome" xml:lang="en">Total income.</label>
<loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" xlink:label="loc_ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" xml:lang="en">Share of profit (loss) of associates accounted for using equity method</label>
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<loc xlink:type="locator" xlink:href="254900ZNZDQL6OWQH623-2024-03-31.xsd#aaf_UnderlyingProfitAfterTax" xlink:label="loc_aaf_UnderlyingProfitAfterTax" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaf_UnderlyingProfitAfterTax" xml:lang="en">Underlying Profit After Tax</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaf_UnderlyingProfitAfterTax" xlink:to="lab_aaf_UnderlyingProfitAfterTax" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaf_UnderlyingProfitAfterTax" xml:lang="en">Underlying profit after tax.</label>
<loc xlink:type="locator" xlink:href="254900ZNZDQL6OWQH623-2024-03-31.xsd#aaf_UnderlyingProfitBeforeTax" xlink:label="loc_aaf_UnderlyingProfitBeforeTax" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaf_UnderlyingProfitBeforeTax" xml:lang="en">Underlying Profit Before Tax</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaf_UnderlyingProfitBeforeTax" xlink:to="lab_aaf_UnderlyingProfitBeforeTax" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaf_UnderlyingProfitBeforeTax" xml:lang="en">Underlying profit before tax.</label>
<loc xlink:type="locator" xlink:href="254900ZNZDQL6OWQH623-2024-03-31.xsd#aaf_BalanceHeldUnderMobileMoneyTrust" xlink:label="loc_aaf_BalanceHeldUnderMobileMoneyTrust" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaf_BalanceHeldUnderMobileMoneyTrust" xml:lang="en">Balance Held Under Mobile Money Trust</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaf_BalanceHeldUnderMobileMoneyTrust" xlink:to="lab_aaf_BalanceHeldUnderMobileMoneyTrust" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaf_BalanceHeldUnderMobileMoneyTrust" xml:lang="en">Balance held under mobile money trust.</label>
<loc xlink:type="locator" xlink:href="254900ZNZDQL6OWQH623-2024-03-31.xsd#aaf_IntangibleAssetsOtherThanGoodwillAndIntangibleAssetsUnderDevelopment" xlink:label="loc_aaf_IntangibleAssetsOtherThanGoodwillAndIntangibleAssetsUnderDevelopment" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaf_IntangibleAssetsOtherThanGoodwillAndIntangibleAssetsUnderDevelopment" xml:lang="en">Intangible Assets Other Than Goodwill And Intangible Assets Under Development</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaf_IntangibleAssetsOtherThanGoodwillAndIntangibleAssetsUnderDevelopment" xml:lang="en">Intangible assets other than goodwill and intangible assets under development.</label>
<loc xlink:type="locator" xlink:href="254900ZNZDQL6OWQH623-2024-03-31.xsd#aaf_PropertyPlantAndEquipmentOtherThanCapitalWorkInProgress" xlink:label="loc_aaf_PropertyPlantAndEquipmentOtherThanCapitalWorkInProgress" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaf_PropertyPlantAndEquipmentOtherThanCapitalWorkInProgress" xml:lang="en">Property Plant And Equipment Other Than Capital Work In Progress</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaf_PropertyPlantAndEquipmentOtherThanCapitalWorkInProgress" xlink:to="lab_aaf_PropertyPlantAndEquipmentOtherThanCapitalWorkInProgress" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaf_PropertyPlantAndEquipmentOtherThanCapitalWorkInProgress" xml:lang="en">Property plant and equipment other than capital work in progress.</label>
<loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CurrentAssetsLiabilities" xlink:label="loc_ifrs-full_CurrentAssetsLiabilities" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_ifrs-full_CurrentAssetsLiabilities" xml:lang="en">Current assets (liabilities)</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CurrentAssetsLiabilities" xlink:to="lab_ifrs-full_CurrentAssetsLiabilities" />
<loc xlink:type="locator" xlink:href="254900ZNZDQL6OWQH623-2024-03-31.xsd#aaf_MobileMoneyWalletBalance" xlink:label="loc_aaf_MobileMoneyWalletBalance" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaf_MobileMoneyWalletBalance" xml:lang="en">Mobile Money Wallet Balance</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaf_MobileMoneyWalletBalance" xlink:to="lab_aaf_MobileMoneyWalletBalance" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaf_MobileMoneyWalletBalance" xml:lang="en">Mobile money wallet balance.</label>
<loc xlink:type="locator" xlink:href="254900ZNZDQL6OWQH623-2024-03-31.xsd#aaf_OtherReservesAndRetainedEarnings" xlink:label="loc_aaf_OtherReservesAndRetainedEarnings" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaf_OtherReservesAndRetainedEarnings" xml:lang="en">Other Reserves And Retained Earnings</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaf_OtherReservesAndRetainedEarnings" xlink:to="lab_aaf_OtherReservesAndRetainedEarnings" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaf_OtherReservesAndRetainedEarnings" xml:lang="en">Other reserves and retained earnings.</label>
<loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_NetAssetsLiabilities" xlink:label="loc_ifrs-full_NetAssetsLiabilities" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_ifrs-full_NetAssetsLiabilities" xml:lang="en">Assets (liabilities)</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_NetAssetsLiabilities" xlink:to="lab_ifrs-full_NetAssetsLiabilities" />
<loc xlink:type="locator" xlink:href="254900ZNZDQL6OWQH623-2024-03-31.xsd#aaf_PutOptionLiability" xlink:label="loc_aaf_PutOptionLiability" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaf_PutOptionLiability" xml:lang="en">Put option liability</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaf_PutOptionLiability" xlink:to="lab_aaf_PutOptionLiability" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaf_PutOptionLiability" xml:lang="en">Put option liability.</label>
<loc xlink:type="locator" xlink:href="254900ZNZDQL6OWQH623-2024-03-31.xsd#aaf_OtherComponentsOfEquityMember" xlink:label="loc_aaf_OtherComponentsOfEquityMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaf_OtherComponentsOfEquityMember" xml:lang="en">Other Components Of Equity [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaf_OtherComponentsOfEquityMember" xlink:to="lab_aaf_OtherComponentsOfEquityMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaf_OtherComponentsOfEquityMember" xml:lang="en">Other Components Of Equity.</label>
<loc xlink:type="locator" xlink:href="254900ZNZDQL6OWQH623-2024-03-31.xsd#aaf_OtherReservesAndRetainedEarningsMember" xlink:label="loc_aaf_OtherReservesAndRetainedEarningsMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaf_OtherReservesAndRetainedEarningsMember" xml:lang="en">Other Reserves And Retained Earnings [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaf_OtherReservesAndRetainedEarningsMember" xlink:to="lab_aaf_OtherReservesAndRetainedEarningsMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaf_OtherReservesAndRetainedEarningsMember" xml:lang="en">Other reserves and retained earnings [Member].</label>
<loc xlink:type="locator" xlink:href="254900ZNZDQL6OWQH623-2024-03-31.xsd#aaf_TransactionsWithNoncontrollingInterestsReserveMember" xlink:label="loc_aaf_TransactionsWithNoncontrollingInterestsReserveMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaf_TransactionsWithNoncontrollingInterestsReserveMember" xml:lang="en">Transactions With Noncontrolling Interests Reserve [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaf_TransactionsWithNoncontrollingInterestsReserveMember" xlink:to="lab_aaf_TransactionsWithNoncontrollingInterestsReserveMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaf_TransactionsWithNoncontrollingInterestsReserveMember" xml:lang="en">Transactions with noncontrolling interests reserve [Member].</label>
<loc xlink:type="locator" xlink:href="254900ZNZDQL6OWQH623-2024-03-31.xsd#aaf_CancellationOfDeferredShares" xlink:label="loc_aaf_CancellationOfDeferredShares" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaf_CancellationOfDeferredShares" xml:lang="en">Cancellation Of Deferred Shares</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaf_CancellationOfDeferredShares" xlink:to="lab_aaf_CancellationOfDeferredShares" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaf_CancellationOfDeferredShares" xml:lang="en">Cancellation of deferred shares.</label>
<loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DividendsRecognisedAsDistributionsToNoncontrollingInterests" xlink:label="loc_ifrs-full_DividendsRecognisedAsDistributionsToNoncontrollingInterests" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_ifrs-full_DividendsRecognisedAsDistributionsToNoncontrollingInterests" xml:lang="en">Dividends recognised as distributions to non-controlling interests</label>
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<loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DividendsRecognisedAsDistributionsToOwnersOfParent" xlink:label="loc_ifrs-full_DividendsRecognisedAsDistributionsToOwnersOfParent" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_ifrs-full_DividendsRecognisedAsDistributionsToOwnersOfParent" xml:lang="en">Dividends recognised as distributions to owners of parent</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DividendsRecognisedAsDistributionsToOwnersOfParent" xlink:to="lab_ifrs-full_DividendsRecognisedAsDistributionsToOwnersOfParent" />
<loc xlink:type="locator" xlink:href="254900ZNZDQL6OWQH623-2024-03-31.xsd#aaf_OrdinarySharesBuyBackProgramme" xlink:label="loc_aaf_OrdinarySharesBuyBackProgramme" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaf_OrdinarySharesBuyBackProgramme" xml:lang="en">Ordinary Shares Buy Back Programme</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_aaf_OrdinarySharesBuyBackProgramme" xml:lang="en">Ordinary Shares Buy Back Programme</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaf_OrdinarySharesBuyBackProgramme" xlink:to="lab_aaf_OrdinarySharesBuyBackProgramme" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaf_OrdinarySharesBuyBackProgramme" xml:lang="en">Ordinary shares buy back programme.</label>
<loc xlink:type="locator" xlink:href="254900ZNZDQL6OWQH623-2024-03-31.xsd#aaf_PurchaseOfOwnSharesNet" xlink:label="loc_aaf_PurchaseOfOwnSharesNet" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaf_PurchaseOfOwnSharesNet" xml:lang="en">Purchase Of Own Shares Net</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_aaf_PurchaseOfOwnSharesNet" xml:lang="en">Purchase of treasury shares</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaf_PurchaseOfOwnSharesNet" xlink:to="lab_aaf_PurchaseOfOwnSharesNet" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaf_PurchaseOfOwnSharesNet" xml:lang="en">Purchase of own shares net.</label>
<loc xlink:type="locator" xlink:href="254900ZNZDQL6OWQH623-2024-03-31.xsd#aaf_AdjustmentToNonControllingInterestsPertainingToAirtelMobileCommerceBV" xlink:label="loc_aaf_AdjustmentToNonControllingInterestsPertainingToAirtelMobileCommerceBV" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaf_AdjustmentToNonControllingInterestsPertainingToAirtelMobileCommerceBV" xml:lang="en">Adjustment To Non Controlling Interests Pertaining To Airtel Mobile Commerce B V</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaf_AdjustmentToNonControllingInterestsPertainingToAirtelMobileCommerceBV" xlink:to="lab_aaf_AdjustmentToNonControllingInterestsPertainingToAirtelMobileCommerceBV" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaf_AdjustmentToNonControllingInterestsPertainingToAirtelMobileCommerceBV" xml:lang="en">Adjustment to non controlling interests pertaining to airtel mobile commerce B.V.</label>
<loc xlink:type="locator" xlink:href="254900ZNZDQL6OWQH623-2024-03-31.xsd#aaf_DividendTaxRate" xlink:label="loc_aaf_DividendTaxRate" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaf_DividendTaxRate" xml:lang="en">Dividend Tax Rate</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaf_DividendTaxRate" xlink:to="lab_aaf_DividendTaxRate" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaf_DividendTaxRate" xml:lang="en">Dividend tax rate.</label>
<loc xlink:type="locator" xlink:href="254900ZNZDQL6OWQH623-2024-03-31.xsd#aaf_NCIImpactOfIPOOfAirtelUganda" xlink:label="loc_aaf_NCIImpactOfIPOOfAirtelUganda" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaf_NCIImpactOfIPOOfAirtelUganda" xml:lang="en">NCI Impact Of IPO Of Airtel Uganda</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaf_NCIImpactOfIPOOfAirtelUganda" xlink:to="lab_aaf_NCIImpactOfIPOOfAirtelUganda" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaf_NCIImpactOfIPOOfAirtelUganda" xml:lang="en">NCI impact of IPO of airtel uganda.</label>
<loc xlink:type="locator" xlink:href="254900ZNZDQL6OWQH623-2024-03-31.xsd#aaf_NCIReversalOfPutOptionLiability" xlink:label="loc_aaf_NCIReversalOfPutOptionLiability" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaf_NCIReversalOfPutOptionLiability" xml:lang="en">NCI Reversal Of Put Option Liability</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaf_NCIReversalOfPutOptionLiability" xlink:to="lab_aaf_NCIReversalOfPutOptionLiability" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaf_NCIReversalOfPutOptionLiability" xml:lang="en">NCI reversal of put option liability.</label>
<loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition" xlink:label="loc_ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition" xml:lang="en">Cash and cash equivalents if different from statement of financial position at end of period</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition" xml:lang="en">Cash and cash equivalents if different from statement of financial position at beginning of period</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition" xlink:to="lab_ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition" />
<loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:label="loc_ifrs-full_CashFlowsFromUsedInFinancingActivities" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_ifrs-full_CashFlowsFromUsedInFinancingActivities" xml:lang="en">Net cash flows from (used in) financing activities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:to="lab_ifrs-full_CashFlowsFromUsedInFinancingActivities" />
<loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DividendsPaidToEquityHoldersOfParentClassifiedAsFinancingActivities" xlink:label="loc_ifrs-full_DividendsPaidToEquityHoldersOfParentClassifiedAsFinancingActivities" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_ifrs-full_DividendsPaidToEquityHoldersOfParentClassifiedAsFinancingActivities" xml:lang="en">Dividends paid to equity holders of parent, classified as financing activities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DividendsPaidToEquityHoldersOfParentClassifiedAsFinancingActivities" xlink:to="lab_ifrs-full_DividendsPaidToEquityHoldersOfParentClassifiedAsFinancingActivities" />
<loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DividendsPaidToNoncontrollingInterestsClassifiedAsFinancingActivities" xlink:label="loc_ifrs-full_DividendsPaidToNoncontrollingInterestsClassifiedAsFinancingActivities" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_ifrs-full_DividendsPaidToNoncontrollingInterestsClassifiedAsFinancingActivities" xml:lang="en">Dividends paid to non-controlling interests, classified as financing activities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DividendsPaidToNoncontrollingInterestsClassifiedAsFinancingActivities" xlink:to="lab_ifrs-full_DividendsPaidToNoncontrollingInterestsClassifiedAsFinancingActivities" />
<loc xlink:type="locator" xlink:href="254900ZNZDQL6OWQH623-2024-03-31.xsd#aaf_InflowOutflowOnMaturityOfDerivativesClassifiedAsFinancingActivities" xlink:label="loc_aaf_InflowOutflowOnMaturityOfDerivativesClassifiedAsFinancingActivities" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaf_InflowOutflowOnMaturityOfDerivativesClassifiedAsFinancingActivities" xml:lang="en">Inflow Outflow On Maturity Of Derivatives Classified As Financing Activities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaf_InflowOutflowOnMaturityOfDerivativesClassifiedAsFinancingActivities" xlink:to="lab_aaf_InflowOutflowOnMaturityOfDerivativesClassifiedAsFinancingActivities" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaf_InflowOutflowOnMaturityOfDerivativesClassifiedAsFinancingActivities" xml:lang="en">Inflow outflow on maturity of derivatives classified as financing activities.</label>
<loc xlink:type="locator" xlink:href="254900ZNZDQL6OWQH623-2024-03-31.xsd#aaf_InterestOnBorrowingsLeaseLiabilitiesAndOtherLiabilities" xlink:label="loc_aaf_InterestOnBorrowingsLeaseLiabilitiesAndOtherLiabilities" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaf_InterestOnBorrowingsLeaseLiabilitiesAndOtherLiabilities" xml:lang="en">Interest On Borrowings Lease Liabilities And Other Liabilities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_aaf_InterestOnBorrowingsLeaseLiabilitiesAndOtherLiabilities" xml:lang="en">Interest On Borrowings Lease Liabilities And Other Liabilities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaf_InterestOnBorrowingsLeaseLiabilitiesAndOtherLiabilities" xlink:to="lab_aaf_InterestOnBorrowingsLeaseLiabilitiesAndOtherLiabilities" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaf_InterestOnBorrowingsLeaseLiabilitiesAndOtherLiabilities" xml:lang="en">Interest on borrowings lease liabilities and other liabilities.</label>
<loc xlink:type="locator" xlink:href="254900ZNZDQL6OWQH623-2024-03-31.xsd#aaf_PaymentOfDeferredSpectrumLiabilityClassifiedAsFinancingActivities" xlink:label="loc_aaf_PaymentOfDeferredSpectrumLiabilityClassifiedAsFinancingActivities" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaf_PaymentOfDeferredSpectrumLiabilityClassifiedAsFinancingActivities" xml:lang="en">Payment Of Deferred Spectrum Liability Classified As Financing Activities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_aaf_PaymentOfDeferredSpectrumLiabilityClassifiedAsFinancingActivities" xml:lang="en">Payment Of Deferred Spectrum Liability Classified As Financing Activities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaf_PaymentOfDeferredSpectrumLiabilityClassifiedAsFinancingActivities" xlink:to="lab_aaf_PaymentOfDeferredSpectrumLiabilityClassifiedAsFinancingActivities" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaf_PaymentOfDeferredSpectrumLiabilityClassifiedAsFinancingActivities" xml:lang="en">Payment of deferred spectrum liability classified as financing activities.</label>
<loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" xlink:label="loc_ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" xml:lang="en">Payments of lease liabilities, classified as financing activities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" xlink:to="lab_ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" />
<loc xlink:type="locator" xlink:href="254900ZNZDQL6OWQH623-2024-03-31.xsd#aaf_PurchaseOfOwnSharesByEsopTrust" xlink:label="loc_aaf_PurchaseOfOwnSharesByEsopTrust" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaf_PurchaseOfOwnSharesByEsopTrust" xml:lang="en">Purchase Of Own Shares By ESOP Trust</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_aaf_PurchaseOfOwnSharesByEsopTrust" xml:lang="en">Purchase Of Own Shares By ESOP Trust</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaf_PurchaseOfOwnSharesByEsopTrust" xlink:to="lab_aaf_PurchaseOfOwnSharesByEsopTrust" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaf_PurchaseOfOwnSharesByEsopTrust" xml:lang="en">Purchase of own shares by esop trust.</label>
<loc xlink:type="locator" xlink:href="254900ZNZDQL6OWQH623-2024-03-31.xsd#aaf_PurchaseOfSharesUnderBuyBackProgrammeClassifiedAsFinancingActivities" xlink:label="loc_aaf_PurchaseOfSharesUnderBuyBackProgrammeClassifiedAsFinancingActivities" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaf_PurchaseOfSharesUnderBuyBackProgrammeClassifiedAsFinancingActivities" xml:lang="en">Purchase Of Shares Under Buy Back Programme Classified As Financing Activities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_aaf_PurchaseOfSharesUnderBuyBackProgrammeClassifiedAsFinancingActivities" xml:lang="en">Purchase Of Shares Under Buy Back Programme Classified As Financing Activities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaf_PurchaseOfSharesUnderBuyBackProgrammeClassifiedAsFinancingActivities" xlink:to="lab_aaf_PurchaseOfSharesUnderBuyBackProgrammeClassifiedAsFinancingActivities" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaf_PurchaseOfSharesUnderBuyBackProgrammeClassifiedAsFinancingActivities" xml:lang="en">Purchase of shares under buy back programme classified as financing activities.</label>
<loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:label="loc_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xml:lang="en">Repayments of borrowings, classified as financing activities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:to="lab_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" />
<loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:label="loc_ifrs-full_CashFlowsFromUsedInInvestingActivities" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_ifrs-full_CashFlowsFromUsedInInvestingActivities" xml:lang="en">Net cash flows from (used in) investing activities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:to="lab_ifrs-full_CashFlowsFromUsedInInvestingActivities" />
<loc xlink:type="locator" xlink:href="254900ZNZDQL6OWQH623-2024-03-31.xsd#aaf_InflowOutflowOfInvestmentInDepositsWithBank" xlink:label="loc_aaf_InflowOutflowOfInvestmentInDepositsWithBank" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaf_InflowOutflowOfInvestmentInDepositsWithBank" xml:lang="en">Inflow Outflow Of Investment In Deposits With Bank</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaf_InflowOutflowOfInvestmentInDepositsWithBank" xlink:to="lab_aaf_InflowOutflowOfInvestmentInDepositsWithBank" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaf_InflowOutflowOfInvestmentInDepositsWithBank" xml:lang="en">Inflow outflow of investment in deposits with bank.</label>
<loc xlink:type="locator" xlink:href="254900ZNZDQL6OWQH623-2024-03-31.xsd#aaf_InflowsOutflowsOfMaturityOfDepositsWithBank" xlink:label="loc_aaf_InflowsOutflowsOfMaturityOfDepositsWithBank" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaf_InflowsOutflowsOfMaturityOfDepositsWithBank" xml:lang="en">Inflows Outflows Of Maturity Of Deposits With Bank</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaf_InflowsOutflowsOfMaturityOfDepositsWithBank" xlink:to="lab_aaf_InflowsOutflowsOfMaturityOfDepositsWithBank" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaf_InflowsOutflowsOfMaturityOfDepositsWithBank" xml:lang="en">Inflows outflows of maturity of deposits with bank.</label>
<loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherCashPaymentsToAcquireInterestsInJointVenturesClassifiedAsInvestingActivities" xlink:label="loc_ifrs-full_OtherCashPaymentsToAcquireInterestsInJointVenturesClassifiedAsInvestingActivities" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_ifrs-full_OtherCashPaymentsToAcquireInterestsInJointVenturesClassifiedAsInvestingActivities" xml:lang="en">Other cash payments to acquire interests in joint ventures, classified as investing activities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherCashPaymentsToAcquireInterestsInJointVenturesClassifiedAsInvestingActivities" xlink:to="lab_ifrs-full_OtherCashPaymentsToAcquireInterestsInJointVenturesClassifiedAsInvestingActivities" />
<loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities" xlink:label="loc_ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities" xml:lang="en">Purchase of intangible assets, classified as investing activities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities" xlink:to="lab_ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities" />
<loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_PurchaseOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod" xlink:label="loc_ifrs-full_PurchaseOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_ifrs-full_PurchaseOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod" xml:lang="en">Purchase of investments other than investments accounted for using equity method</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_PurchaseOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod" xlink:to="lab_ifrs-full_PurchaseOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod" />
<loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:label="loc_ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xml:lang="en">Purchase of property, plant and equipment, classified as investing activities</label>
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