HomeServicesTelecomsAirtel Africa raises $200 million from mobile money share sale

Airtel Africa raises $200 million from mobile money share sale

Jumia Black Friday Deals

Airtel Africa had been looking to sell off some assets so that it can have more cash at hand to settle debts and improve operations. Thus, the London-listed company decided to sell off some stakes in its mobile money business.

This arm of the business had been helping to drive financial inclusion in areas of Africa, especially for the unbanked. As of the time of this writing, the company has found a willing investor in The Rise Fund which will be investing $200 million into the business. In return, the buying company will get equivalent share exchanges of the company.

The best thing about this idea is that Airtel Africa still gets to hold a majority share in the business so they can keep going on with the plans that they had for the unit. Likewise, Airtel Arica has now achieved its aim to raise some cash and will, thus, be able to pay off some of its debts while driving better penetration of the network in parts of Africa where more help is needed.

The deal will be completed in two parts. The first $150 million will be invested at first and a next $50 million will hit when the deal closes.

Latest articles

Best Valentine’s Day Gifts Ideas

Looking for a great Valentine's Day gift for your loved one? You are in...

Best Web Hosting Services for Small Business in 2024

Your business's online presence is as vital as any physical storefront or office. The...

8 Reasons to Buy the Oppo Reno 11 5G

Are you in the market for a new smartphone? Look no further than the...

10 Key Features of the Tecno Spark 20 Pro Plus

Tecno has introduced the top of the line member of its latest Spark Series....

How to Open OPay Account for Seamless Banking

OPay is a leading mobile banking and payment platform that allows you to make...

SpaceX launches First Starlink Direct to Phone Satellites

SpaceX has announced the launch of its first set of direct to cell satellites...

How to Track a Cheating Spouse

Lacking trust in a relationship can lead to sleepless nights, restlessness, and worry. If...

More like this

SpaceX launches First Starlink Direct to Phone Satellites

SpaceX has announced the launch of its first set of direct to cell satellites...

How to Win 9Mobile CashToken Reward Offer

9Mobile CashToken Rewards Offer promises lucky subscribers between ₦5,000 and ₦100 million weekly. It...

Airtel Nigeria teams up with AXA Mansard to offer health insurance to subscribers

Airtel Nigeria is boosting its services to users, ensuring it is not only their...