Tuesday said that three investors, Qatar Investment Authority , TPG, a U.S. private equity firm, and Mastercard have increased their investments in Airtel Money to $500 million.
Airtel Mobile Commerce Nigeria Ltd, a subsidiary of Airtel Africa, had on Monday announced it had received approval-in-principle from the Central Bank of Nigeria to operate as a super agent in Nigeria, barely one week after it got a similar nod from the industry watchdog to start a payments service bank.
Mastercard, TPG and QIA have invested previously in the secondary purchase of shares in Airtel Mobile Commerce BV , a subsidiary of Airtel Africa. In the latest round, Mastercard increased its shares in the company by investing $25 million, while TPG and QIA invested $50 million each, summing up to $125 dollars.“With these second closings, Airtel Africa will have received a total of $500 million cumulative proceeds from the minority stake sales in Airtel Money from the three investors,” it said.
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