Airtel Money is eyeing a $4B IPO in 2026
What's the story
Airtel Africa Plc, one of Africa's largest telecom operators, is working with Citigroup Inc for a potential initial public offering (IPO) of its mobile money unit, Airtel Money. The company is currently in talks with investors in Dubai and considering a deal that could value Airtel Money at over $4 billion.
Business strategy
Airtel Africa committed to listing in H1 2026
Airtel Africa has not yet decided on the timing, location, or size of the deal. However, a spokesperson for the company confirmed its commitment to listing its mobile money business in H1 2026. The fast-growing mobile money unit already has 45.8 million customers as of June quarter-end, and an annualized transaction value of $162 billion.
Financial growth
Previous investments in Airtel Money
In 2021, TPG Inc invested $200 million in Airtel Money at a valuation of $2.65 billion, while Mastercard invested $100 million. An affiliate of Qatar's sovereign wealth fund also took a stake in the company later that year. The potential IPO is part of Airtel Africa's strategy to tap into Africa's fast-growing fintech market and its young population increasingly using technology for banking services.
Business empire
Airtel Africa's operations and Sunil Mittal's business empire
Airtel Africa operates in 14 nations and is listed in London and Lagos. The firm is one of several businesses controlled by billionaire Sunil Mittal, who has a net worth of over $27 billion. His business empire also includes Indian telecom operator Bharti Airtel, UK-based satellite firm OneWeb, and Bharti Enterprises Ltd, which purchased a 24.5% stake in BT Group Plc last year.