Airtel Africa Plc has sold its 25.77 percent stake mobile money business in a bid to raise cash and sell off some assets it’s Full 2022 Annual Report discloses.
“We received a minority investment of $550m from four investors in Airtel Mobile Commerce B.V. The Rise Fund invested $200m, Mastercard $100m, Qatar Holding LLC (QIA) $200m and $50m from Chimera Investment LLC.”
“Additionally, the sale of towers in Tanzania, Malawi and Madagascar resulted in total gross proceeds of $284m, out of which $240m has been received so far from the first closing of tower sales. We also continue to pursue further potential sales of our tower assets in Chad and Gabon.”
The Group’s stake in Airtel Money Kenya Limited fell from 100 percent a year ago to 74.23 percent in the year ended March.
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