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 Money partners with Natsave to offer wallet to bank services in Zambia

ZAMBIA – Airtel Mobile Commerce Zambia Limited has partnered with NATSAVE Bank to launch its Wallet to Bank and Bank to Wallet services in Zambia thus broadening access to financial services. The partnership is aimed at providing appropriate and quality financing that is both accessible and affordable to low-income and other vulnerable households as envisioned in the 7th National Development Plan and the Vision 2030 Strategy. Airtel Money Director James Chona said because financial inclusion was a multidimensional model which encompassed all initiatives including the use and access of Mobile…

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