Rise Fund To Invest $200 Mln In Airtel Africa’s Mobile Money Business At $2.65 Bln Valuation

Telecommunications and mobile money services provider Airtel Africa said it signed an agreement under which The Rise Fund, the global impact investing platform of alternative investment firm TPG, would invest $200 million in Airtel Mobile Commerce BV or AMC BV, a wholly owned subsidiary of Airtel Africa plc (AAF.L).

AMC BV is currently the holding company for several of Airtel Africa’s mobile money operations; and is now intended to own and operate the mobile money businesses across all of Airtel Africa’s fourteen operating countries.

The Transaction values Airtel Africa’s mobile money business at $2.65 billion on a cash and debt free basis. Upon completion of the transaction, the Rise Fund would hold a minority stake in AMC BV with Airtel Africa continuing to hold the remaining majority stake.

The proceeds from the transaction would be used to reduce Group debt and invest in network and sales infrastructure in the respective operating countries.

– RTT News