Airtel Africa, the continent’s second-largest telecom operator, is exploring an Initial Public Offering (IPO) for its mobile money service, Airtel Money. This development is expected to value Airtel Money more than $4 billion.
Airtel Africa is considering offering Airtel Money on multiple stock exchanges, but where it would be listed remains to be determined. The UAE, London, and Europe are all prospective locations.
People knowledgeable about the development have stated that Airtel Africa may decide not to proceed with the Airtel Money IPO. Furthermore, completed information regarding the procedures has yet to be released, nor how much it could be worth.
In 2021, Airtel Money received an investment worth $200 million from TPG valued at $2.65 billion. Also, MasterCard Inc. plowed $100 million into it. Since then, Airtel Africa has decided to list its mobile money service publicly within four years.
Airtel Money has grown to be the fastest-growing division of Airtel Africa, particularly in Nigeria. Since they promoted the emergence of the cashless policy, They have operated in 14 different countries and have completed transactions totaling $56 billion in a few months in 2024.
