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)…

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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…

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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,…

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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…

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Airtel set to offload stake in mobile money service

KENYA – London Stock Exchange-listed telecommunication company Airtel Africa Plc is seeking to sell a minority stake in its mobile financial services platform Airtel Money in a bid to raise cash. The multinational mobile telecommunication company, which operates in 14 countries in East, Central and West African countries, says the move is part of a strategy of selling some assets. “We are actively pursuing the sale of the remaining owned tower sites that sit across several of our operating countries and the group is in discussions with various potential investors…

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Ericsson signs key deals in Sub-Saharan Africa,sees strong demand

AFRICA – Encouraged by a series of signed contracts, Swedish multinational networking and telecommunications company Ericsson, says it has seen strong demand for its services in Sub-Saharan Africa, signalling rapid growth of mobile connectivity across the region as consumer demand for enhanced mobile services increases. The company says a series of recent wins for Ericsson highlight the company’s growing footprint in the region as service providers strengthen their networks to meet growing demand from consumers and enterprises. Ericsson says it has signed a series of contracts in Kenya, South Africa,…

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Airtel Africa to reduce US$3.5b debt by offloading towers

AFRICA – Airtel Africa plans to sell about 4,500 telecommunication towers across five countries including Tanzania and Madagascar to help reduce US$3.5 billion of debt as it prepares for looming bond repayments. Africa’s second largest carrier by subscribers is also disposing of cellular masts in Gabon, Malawi and Chad, CEO Raghunath Mandava said in an interview. “We are constantly seeking to bring down our debt, and we prefer to bring it down even faster with the tower deals,” he said. Airtel has a repayment of US$890 million due in May 2021,…

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StanChart Bank and Airtel partner to increase access to mobile financing services in Africa

AFRICA – Standard Chartered Bank, a multinational banking and financial services company, and Airtel Africa, a telecommunication company, have announced a strategic collaboration to drive financial inclusion across key markets in Africa by providing customers with increased access to mobile financial services. Through the collaboration, Standard Chartered and Airtel Africa will work together to co-create new, innovative products aimed at enhancing the accessibility of financial services and ultimately, better serve people across Africa. In line with this, Airtel Money’s customers will be able to make real-time online deposits and withdrawals…

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Airtel Africa’s Q1 profits jump by 13% to US$210 million in spite of COVID-19 pandemic

AFRICA – Airtel Africa, of the leading multinational telecommunication companies on the continent, has recorded an impressive 13% jump in profits in its QI results for 2020 in spite of the raging COVID-19 pandemic. According to a statement from Airtel Africa, the teleco recorded a profit of US$210 million in Q1 of its 2020 financial year which ended in June. The profit according to Airtel Africa represented a 12.9% rise compared to the profits realized during the same period last year. The telecommunications giant also reported that during the period…

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Airtel Africa set to raise US$37.5m in Malawi as it plans an initial public offering

MALAWI – Airtel Africa is set to raise US$37.5 million in Malawi Stock Exchange as the telecommunication company plans an initial public offering (IPO). The IPO would aid the Malawian investing public own 20% shares of the network provider. The reports state that Airtel Africa would embark on an IPO of Malawian subsidiary on the main market of the Malawi Stock Exchange. The network provider, which has subsidiaries in 14 African countries, disclosed that its shares would be available for the public to purchase once necessary regulatory approvals had been…

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