Airtel Africa explores IPO for mobile money division in under 4 years

News Wireless Africa 8 NOV 2021
Airtel Africa explores IPO for mobile money division in under 4 years

Airtel Africa is exploring a potential IPO for its mobile money business in less than four years, according to the company's investors presentation for its half-year results ending September. Airtel received USD 200 million in new investments from Qatar Investment Authority (QIA) earlier this year, adding USD 300 million from an earlier minority investment agreement with TPG and MasterCard. The result is a net USD 375 million in cash to the company.

Airtel’s mobile money business continues to be a major growth driver, topping 23.9 million customers across Africa, up from 19 percent in the same period in 2020. The total transaction value has risen by 47.4 percent to USD 30.5 billion while delivering an ARPU of USD 1.87, up 17.3 percent. These factors helped the company achieve a revenue of USD 259 million in the period under review, up 42.7 percent year on year.

Categories:

Mobile

Companies:

Airtel Africa

Regions:

Africa

Tags:

e-Payment, Wireless, Financial funding

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