Airtel Africa is preparing to take its mobile money division public in 2025, aiming for a valuation exceeding $4 billion. This strategic move aligns with its plans to expand the service across additional African countries. Currently operating in 14 nations, Airtel Money has demonstrated consistent growth, as highlighted by CEO Olusegun Ogunsanya.
Ogunsanya emphasized that the company is on track for a listing next year but has not disclosed which stock exchange will host the initial public offering (IPO). Despite challenging economic conditions, the mobile money unit has shown resilience, with transaction values increasing by 38.2% (constant currency), reaching an annual total of over $112 billion. Its customer base has expanded by 20% year-on-year to reach 38 million users.
Airtel Money operates most successfully in six key markets: Uganda, Tanzania, Zambia, Malawi (East Africa), and Gabon, the Democratic Republic of Congo (Francophone Africa). The CEO credits their winning strategy to leveraging first-mover advantages, strong infrastructure, and distribution networks. In several markets, Airtel Money has benefited from limited competition.
This IPO follows a broader trend of significant investment in African mobile money providers, such as Mastercard’s recent acquisition of a stake in MTN’s mobile money arm after a $100 million investment in Airtel Money two years ago.
