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Airtel Africa considers IPO for its mobile money unit – Report 

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Olusegun Ogunsanya Airtel Africa

Africa’s second-largest telecom operator, Airtel Africa, is reportedly considering an initial public offering (IPO) for its mobile money unit. 

According to a Bloomberg report citing people familiar with the development, the company is already in talks with potential investors over the IPO that could value the mobile money business at more than $4 billion.  

The company is said to have held discussions with potential advisers about listing Airtel Money as soon as this year.

According to the report, Airtel Africa has not decided where to list the unit, though executives are considering bourses in the United Arab Emirates, London, and Europe among potential venues. 

In 2021, TPG invested $200 million in Airtel Money at a $2.65 billion valuation and MasterCard Inc. invested $100 million. 

At the time, the wireless carrier said it was considering a listing for the business within four years. 

Airtel Money is the firm’s fastest-growing division and has ramped up its offering in Nigeria its biggest market where the government has been promoting cashless payments. Airtel Africa is listed in London and Lagos. 

Last year, Airtel Africa and Mastercard launched an international money transfer and receiving service for Airtel customers in 14 African countries.  

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