The Rise Fund will hold a minority stake in AMC BV, with Airtel Africa continuing to hold the remaining majority stake.
Bharti Airtel said on Thursday that the investment firm TPG’s Rise Fund Airtel will invest $ 2.65 billion in Africa’s mobile money business.
Airtel Mobile Commerce BV is currently the holding company for many mobile money operations in Airtel Africa, and now intends to own and operate mobile money businesses in 14 operating countries of Airtel Africa.
The Rise Fund will hold a minority stake in AMC BV, with Airtel Africa continuing to hold the remaining majority stake.
Airtel said, “This group is the latest step in the group’s pursuit of strategic asset monetization and investment opportunities, and it aims for Airtel Africa to explore a potential list of mobile money businesses within four years.”
Airtel Africa Group is also in discussions with other potential investors, which in relation to a possibly minority investment in Airtel Money, amounts to a total of 25% of the share capital issued by AMC BV.
“The proceeds from the transaction will be used to reduce group debt and to invest in networks and sales infrastructure in the respective operating countries,” the statement said.
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