Airtel Africa, provider of telecommunications and mobile money services, with presence in 14 African countries, Nigeria inclusive, has signed an agreement with The Rise Fund, the global impact investing platform.
Airtel Mobile Commerce BV , is a wholly owned subsidiary of Airtel Africa plc. AMC BV is currently the holding company for several of Airtel Africa’s mobile money operations; and is now intended to own and operate the mobile money businesses across all of Airtel Africa’s fourteen operating countries, including Nigeria.
According to a statement issued by Airtel Africa, and signed by the Group Company Secretary, Simon O’Hara, “The Rise Fund will hold a minority stake in AMC BV upon completion of the transaction, with Airtel Africa continuing to hold the remaining majority stake. The transaction is subject to customary closing conditions including necessary regulatory filings and approvals, as necessary, and the inclusion of specified mobile money business assets and contracts into AMC BV.