Airtel Gets Additional $300m Investment

Airtel Africa has signed a $300m strategic investment with The Rise Fund and Mastercard, which has increased the value of its business to $2.65bn.

Chief Executive Officer, Airtel Africa, Raghunath Mandava, stated that: “In line with our strategy of unlocking value in our mobile money business, we will soon welcome two new minority investors (The Rise Fund and Mastercard) in agreed transactions which value this part of our business at $2.65bn, as well as bringing $300m into the group.”

The Rise Fund will invest $200m, while Mastercard will invest $100m into Airtel Mobile Commerce BV (AMC BV). AMC BV is the holding company for several of Airtel Africa’s mobile money operations it owns and operates in 14 countries.

Besides,Airtel Africa and Mastercard signed a new commercial framework agreement and detailed commercial arrangement which will deepen both company’s commercial partnerships in areas such as card issuance, payment gateway, payment processing, merchant acceptance and remittance solutions, amongst others.