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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