Airtel Money targets payment growth in $800 million London IPO

Airtel Money, the mobile-money arm of Airtel Africa, intends to list on the London Stock Exchange, seeking to raise a minimum of $800 million from existing shareholders and achieve a market capitalisation between $8 billion and $9 billion. Chief Executive Ian Ferrao explained that the company’s revenue is increasingly driven by digital payments and transfers, which offer better margins than traditional cash-in-cash-out services, while its financial-services portfolio—lending, savings and insurance—currently accounts for about 4 % of activity but is expanding rapidly.

The business is present in 13 African nations, with the Democratic Republic of Congo identified as a top growth market and Chad and Niger highlighted as under-penetrated opportunities. The offering, expected to be the biggest in the UK since 2021, would make Airtel Money the first major Sub-Saharan fintech listed on a global exchange, providing a new avenue for investors seeking exposure to the continent. Major shareholders include Airtel Africa (about 78 %), Chimetech Holding, Mastercard, Qatar Investment Authority and the International Finance Corporation, which will purchase $90 million of shares. The IPO could help revive London’s listing market, though analysts caution it may not signal a lasting end to the recent slowdown.