Airtel sells Pan-African mobile money service stake to PE firm for $200M

Airtel Africa is set to sell an undisclosed minority stake in its Pan-African mobile money business to PE firm TPG for $200 million.
TPG is investing in Airtel Money through its investment vehicle-The Arise Fund.
Airtel intends to use the cash raised from the deal to reduce debt and invest in network and sales infrastructure in its respective operating countries.

Airtel Africa

https://www.businessdailyafrica.com/bd/corporate/companies/airtel-sells-mobile-money-service-pe-firm-for-sh21-billion-3327878