, whose mobile money business on the continent is currently valued at $2.65 billion on a cash and debt free basis, has entered an equity acquisition pact with The Rise Fund, the global impact investing platform of leading alternative investment firm TPG, in a transaction that will see the latter take ownership of a minority stake in the business.
The transaction estimated to be $200 million enables The Rise Fund to part-own Airtel Mobile Commerce BV, the holding company of most of Airtel Africa’s mobile money operations, which is now looking to own and run the mobile money businesses across all of the telco’s fourteen operating countries. “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.”posted revenue of $110 million and an underlying earnings before interest, taxes, depreciation and amortisation of $54 million at a margin of 48.7 per cent.