Airtel Africa explores listing mobile money business in four years

TPG Rise Fund to invest $200 mn in the brand

Airtel Africa, an arm of Bharti Airtel, on Thursday said TPG’s The Rise Fund would invest $200 million in its mobile money business at a valuation of $2.65 billion. Airtel Africa also said it would explore potential listing of mobile money business within four years. The proceeds will be used to reduce group debt and invest in network and sales infrastructure in the respective operating countries.

Airtel Mobile Commerce BV is the holding company for several of Airtel Africa’s mobile money operations, and plans to own and operate the businesses across Airtel Africa’s 14 operating countries. The Rise Fund will hold