Airtel Africa plc (Nigeria) – QIA to invest $200 million in Airtel Africa’s mobile money business

By Published On: July 30th, 2021Categories: Corporate announcement

London and Lagos: 30 July 2021: Airtel Africa, a leading provider of telecommunications and mobile money services, with a presence in 14 countries across Africa, today announces the signing of an agreement under which Qatar Holding LLC, an affiliate of the Qatar Investment Authority (“QIA”), will invest $200 million in Airtel Mobile Commerce BV (“AMC BV”), a subsidiary of Airtel Africa plc (the “Transaction”). AMC BV is the holding company for several of Airtel Africa’s mobile money operations; and ultimately is intended to own and operate the mobile money businesses across all of Airtel Africa’s fourteen operating countries.

The Transaction values Airtel Africa’s mobile money business at $2.65 billion on a cash and debt free basis. QIA will hold a minority stake in AMC BV upon completion of the Transaction (alongside other minority investo