Airtel sells Pan-African mobile money service stake to PE firm for $200M
Date21 Mar 2021//
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.