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Wireless

Airtel Africa signs USD 100 mln deal giving Mastercard minority stake in mobile money arm

Thursday 1 April 2021 | 13:50 CET | News
Airtel Africa has announced an agreement under which Mastercard will invest USD 100 million in Airtel Mobile Commerce,  a wholly owned subsidiary of Airtel Africa. AMC is currently the holding company for several Airtel Africa mobile money operations and is intended to own and operate the mobile money businesses in all of Airtel Africa's fourteen operating countries. The deal values Airtel Africa's mobile money business at USD 2.65 billion on a cash and debt-free basis. Mastercard will hold a minority stake in AMC upon completion, with Airtel Africa continuing to hold the majority stake.

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Categories: Mobile & Wireless
Companies: Airtel Africa / AMC / MasterCard / TPG
Countries: Africa
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