Airtel Mobile Commerce BV
Funding History
| The Rise Fund (TPG) Minority Stake Sale · 03/2021 | $2.6B |
|---|---|
| Mastercard Minority Stake Sale · 04/2021 | $2.6B |
| Qatar Holding LLC Minority Stake Sale · 07/2021 | $2.6B |
Overview
Airtel Mobile Commerce BV (AMC BV) is the Netherlands-incorporated holding company for Airtel Africa's mobile money operations, which span 13 African countries -- all of Airtel Africa's operating markets except Nigeria, whose payment service bank operations are held outside AMC BV -- including Kenya and Uganda.
In 2021, Airtel Africa sold minority stakes in AMC BV to four outside investors in separate transactions: TPG's The Rise Fund ($200 million, March 2021), Mastercard ($100 million, April 2021), and Qatar Holding LLC, an affiliate of the Qatar Investment Authority ($200 million, July 2021) -- each of these three priced at a $2.65 billion cash-and-debt-free valuation -- and Chimetec Holdings LLC ($50 million, December 2021, per Airtel Africa's 2026 annual report, which does not disclose a valuation for this specific transaction). Together these deals raised $550 million from outside investors while Airtel Africa retained majority ownership.
At the time of the 2021 deals, Airtel Africa said it was exploring the possibility of taking the mobile money business public within about four years, separate from Airtel Africa plc's own listings on the London and Nigerian stock exchanges.
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