LONDON, April 29 – Airtel Africa is planning an initial public offering of its mobile money unit, Airtel Money, that could raise between $1.5 billion and $2 billion, according to sources familiar with the matter.
The listing is most likely to take place in London, although exchanges in the United Arab Emirates and other European markets have also been considered. If successful, the IPO could value Airtel Money at as much as $10 billion, making it one of the largest recent listings on a European exchange.
The IPO process is being led by Citigroup, with additional banks expected to join as advisors. However, final decisions on timing, structure, and location are yet to be confirmed, and the previously targeted mid-year timeline may be ambitious.
Airtel Africa, largely owned by Bharti Enterprises, is one of Africa’s leading telecom operators and the continent’s third-largest wireless carrier. The company has been preparing for the listing of its mobile money arm after years of strong growth in digital financial services.
Airtel Money has attracted significant global investors, including TPG, Mastercard, and an affiliate of Qatar Investment Authority. The platform has seen rapid expansion, with revenues rising nearly 30% to $986 million over nine months and its user base surpassing 52 million.
Africa has emerged as a major growth market for fintech, driven by a young, digitally connected population increasingly adopting mobile-based financial services. Airtel Africa operates across 14 countries and is listed in both London and Lagos, positioning it as a key player in the continent’s digital finance ecosystem.
The group is part of a broader business empire controlled by billionaire Sunil Mittal, whose investments span telecommunications, satellite technology, and global infrastructure.
