Airtel is gearing towards rolling out its Mobile Money business in Nigeria, its Chief Executive Officer, Raghunath Mandava, said as highlights of its operations show a growing trend across its business products.
“We also continue to prepare for the launch of our Mobile Money business in Nigeria, securing approval of the brand name, an important step as we await approval for our payment service bank license. The growth in revenue was attributed to the double-digits growth across business products in Nigeria and East Africa.
On plans to official list Airtel Africa ordinary shares capital to the premium listing segment of the London Stock Exchange, Mr Mandava said arrangements have reached an advanced stage., the CEO said already, eight global commercial banks, including JP Morgan, Citigroup and Goldman Sachs, have been appointed to work on the company’s initial public offer plan.He said the primary proceeds from the IPO are expected to be used by the company to reduce its external debt stock.
The offer on the NSE represented approximately 19 percent of the company’s issued share capital immediately following UK and Nigerian Admission .Unconditional trading of the Airtel Africa shares commenced on the LSE on July 3, and later on the NSE on July 9 this year.
Really disgusted with Nigerian Banks. They've totally missed out on mobile money. Yes it's little margins but high volumes. It's a no brainer