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Airtel Africa secures $200 million investment for mobile money business at $2.65bn valuation
StockMarketWire.com
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Telecommunications and mobile money services Airtel Africa said The Rise Fund had agreed to invest $200 million in the company's mobile money business at a $2.65 billion valuation.
The Rise Fund, an impact investing platform, would hold a minority stake in Airtel Mobile Commerce upon completion of the transaction, with Airtel Africa continuing to hold the remaining majority stake, the company said.
Airtel Africa said it aims to explore the potential listing of the mobile money business within four years.
'The group is in discussions with other potential investors in relation to possible further minority investments into Airtel Money, up to a total of 25% of the issued share capital of AMC BV,' it added.
Story provided by StockMarketWire.com
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