Qatar Investment Authority invests US$200m in Airtel Africa’s mobile money unit

AFRICA – Telecoms operator Airtel Africa has announced that it has secured another investment from Qatar Holding LLC for its mobile money arm. Qatar Holding LLC IA is an affiliate of the Qatar Investment Authority (QIA), the sovereign wealth fund of the State of Qatar with over US$300 billion in assets. The Middle Eastern corporation is set to invest US$200 million into AMC BV through a secondary purchase of shares from Airtel Africa. In April 2021, Mastercard invested US$100 million in Airtel Mobile Commerce BV (AMC BV) — the mobile money business of telecom Airtel Africa…

Read More

Airtel Africa sells tower portfolio in Tanzania to SBA Communications led joint venture for US$175m

TANZANIA – Telecommunications company Airtel Africa, has sold its tower portfolio in Tanzania to a joint venture in a transaction valued at approximately US$175 million. In a statement released to the media, the deal is described as the largest strategic divestment of the Group’s tower portfolio as it focuses on an asset-light business model and its core subscriber-facing operations. Airtel Africa provides telecommunications and mobile money services in 14 African countries including DRC, Nigeria, Zambia and Uganda. According to the company, its tower portfolio in Tanzania comprises about 1,400 towers…

Read More

MasterCard and The Rise Fund to join Airtel Africa as minority investors

AFRICA – Airtel Africa, a telecom company, has announced plans to unveil its two new minority investors, MasterCard and The Rise Fund, in agreed transactions valuing part of their business at US$2.65 billion. This was disclosed by the Chief Executive Officer, Airtel, Raghunath Mandava, in a statement issued to announce its full-year result. “In line with our strategy of unlocking value in our mobile money business, we will soon welcome two new minority investors (The Rise Fund and Mastercard) in agreed transactions which value this part of our business at…

Read More

Airtel Africa appoints Olusegun Ogunsanya as new Chief Executive Officer

AFRICA – Airtel Africa Plc, a provider of telecommunications and mobile money services, has announced the appointment of Mr Olusegun Ogunsanya as the new Chief Executive Officer. This follows the notice of retirement given by the current Managing Director and Chief Executive Officer, Raghunath Mandava, to the Board of the telecoms firm. As per the statement issued by the telco, Segun Ogunsanya will join the Board of Africa business from October 1, 2021. Along with this, the telco also appointed CFO Jaideep Paul as an Executive Director. He will join…

Read More

Airtel Africa signs US$500m credit facility with banks to refinance US$904m debt

AFRICA – Airtel Africa, a provider of telecommunications and mobile money services, with a presence in 14 countries across Africa, has announced the successful signing of a new US$500 million loan facility with a group of relationship banks. The new committed facility consists of a combination of a revolving credit facility and term loans with tenor of up to 4 years.  The facility will be used to partially refinance the Group’s €750 million (US$904 million) Euro denominated bond due 20 May 2021. The balance of the Euro denominated bond will be repaid with existing Group cash…

Read More

Bharti Airtel in a major reorganization, splits Indian business into four units

WORLD – Telecommunication giant Bharti Airtel, which owns mobile operations in Africa as well as India and Sri Lanka, has announced plans to split its business into four separate units. Operations such as Airtel Africa, Bharti Airtel Lanka in Sri Lanka, and Indus Towers in India will continue to operate as separate entities, as will for now, the group’s Indian direct-to-home (DTH) satellite business, Bharti Telemedia. Sunil Bharti Mittal, chairman of Bharti Airtel, said: “The new structure sets the exciting future course for Bharti Airtel and puts focus on four…

Read More

Mastercard Inc to invest US$100m in Airtel Africa’s mobile money unit

AFRICA – American financial service corporation Mastercard Inc will invest US$100 million in Airtel Africa’s mobile money operations valuing the business at US$2.64 billion, the London-listed company said in a press release to Reuters. Mastercard will hold a minority stake in Airtel Mobile Commerce, in line with Airtel Africa’s plan to monetise the mobile money business by selling up to a 25 per cent stake in the unit, the company said. In March 2021, TPG-owned The Rise Fund announced that they will invest US$200 million in Airtel Mobile Commerce (AMC)…

Read More

Airtel Africa secures US$200m from The Rise Fund to develop network and infrastructure

AFRICA – TPG-owned The Rise Fund will invest US$200 million in Airtel Mobile Commerce (AMC) BV, the mobile money business of Airtel’s Africa unit. The transaction is part of Airtel’s strategic asset monetization plan. The investment in AMC BV, a wholly-owned subsidiary of the Africa unit, will value the company at US$2.65 billion on a cash and debt-free basis. Proceeds from the stake sale will be used to slash Airtel’s debt, and invest in developing network and infrastructure across 14 countries in the region. As part of the transaction, The…

Read More

Helios to buy Airtel Africa towers in four markets

AFRICA – London Stock Exchange-listed Helios Towers has reached agreements to buy and deploy over 2,500 high sites from and for Airtel Africa Group in deals that potentially give it access to four “attractive new markets”. Helios is acquiring Airtel’s passive infrastructure in Madagascar and Malawi and has signed an exclusive memorandum of understanding for the “potential acquisition of its passive infrastructure assets in Chad and Gabon”, all subject to regulatory approvals. In a statement on March 23, 2021, Helios said the transactions comprise four separate agreements: one for each market,…

Read More

PE firm TPG buys stake in Airtel’s mobile money unit for US$191m

AFRICA – Airtel Africa is set to sell an undisclosed minority stake in its Pan-African mobile money business to private equity firm TPG for US$191 million, underlining the huge value of mobile financial service platforms in Africa. The multinational telco announced the transaction through the London Stock Exchange where it is listed. The record-breaking deal values Airtel Money, available in Share sale to private equity comes amid struggle to cut M-Pesa dominance in the Kenyan market and 14 African countries including Kenya, Malawi, and Uganda, at US$2.65 billion. TPG is investing…

Read More