Qatar Holding to buy stake in Airtel Africa’s mobile money business

Qatar Holding LLC, an affiliate of the Qatar Investment Authority (QIA), has agreed to a minority stake in Airtel Mobile Commerce BV (AMC BV) for $200 million, which values Airtel Africa’s mobile money business at $2.65 billion.

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 proceeds from the transaction will be used to reduce group debt and invest in network and sales infrastructure in the respective operating countries.

Operating under the Airtel Money brand, Airtel Africa’s mobile money services is a digital mobile financial services platform catering to a large addressable market in Africa and includes mobile wallet deposit and withdrawals, merchant and commercial payments, benefits transfers, loans and savings, virtual card and international money transfers.

Mobile money services are available across the group’s 14 countries of operation, however in Nigeria the group offers Airtel Money services through a partnership with a local bank and has applied for its own mobile banking licence.

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