Airtel Africa’s mobile money unit, Airtel Money, has secured an agreement with the International Finance Corporation (IFC) for an equity investment of up to $90 million. The IFC will be a cornerstone investor in the upcoming London IPO of Airtel Mobile Commerce N.V., which operates Airtel Money. The investment will be part of a secondary sale of existing shares, not a primary capital raise.
The IPO is expected to value Airtel Money at approximately £5.3 billion, with a London Stock Exchange debut anticipated around October 14. Its mobile money operations span 13 markets in Sub-Saharan Africa and generated $1.3 billion in revenue in the last fiscal year. The IFC’s participation provides institutional backing ahead of the listing.