Airtel Africa Plc, a London-listed company, has given up a 25.77 per cent share in its local mobile money business as part of a continent-wide plan to raise $550 million (Sh64.2 billion) from four institutional investors.
The multinational’s stake in Airtel Money Kenya Limited fell from 100 per cent a year ago to 74.23 per cent in the year ended March.
We received a minority investment of $550 million (Sh64.2 billion) from four investors in Airtel Mobile Commerce B.V. The Rise Fund invested $200 million, Mastercard $100 million, Qatar Holding LLC (QIA) $200 million and $50 million from Chimera Investment LLC. ” Airtel Africa in its latest annual report.
The multinational also disclosed a similar reduction in ownership in Airtel Mobile Commerce (Kenya) Limited in the review period.
Similar changes in ownership of the mobile money businesses were also witnessed in markets such as Rwanda, Tanzania, and Zambia
The record-breaking deal values Airtel Money at Sh250 billion and indicates that the rival M-Pesa platform, available in Kenya and five other African markets such as Tanzania and Mozambique, could be valued even higher.
Read also; Airtel Africa Recalls $505 Million Bonds to Ease Debt.
