Airtel Africa is considering an initial public offering (IPO) for its mobile money unit, Airtel Money. The potential valuation could exceed $4 billion.
According to Bloomberg, the company is considering listing on stock exchanges like those in the UAE, London, and other European markets.
However, a final decision has yet to be made, and the exact timing and valuation of the IPO remain unclear.
In 2021, investments from TPG ($200 million) and Mastercard ($100 million) valued Airtel Money at $2.65 billion.
Airtel Africa previously indicated an intention to take the unit public within four years of that time (2021).
Airtel Africa Plc Declared $750 million in PAT in FY 2023
Despite a challenging operating environment, Airtel Africa Plc reported solid financial performance in FY 2023. Its overall revenue grew 11.5% to $5.255 billion during the year.
Its total customer base increased by 9.0% to 140.0 million. In addition, data and mobile money customer segments saw significant growth: 16.9% to 54.6 million and 20.4% to 31.5 million, respectively.
