Airtel Africa has revealed its initial public offering (IPO) plan for its mobile money arm, although discussions on the IPO are still in the primary stage. The potential to surpass $4 billion in valuation makes it worth considering.
This move comes after Airtel Money saw a 31.8% revenue growth, as of December 2023. While its profits plunged by almost 99% in 2023 due to currency devaluation, it still recorded a profit of $2 million which is nothing compared to the $523 million it made in 2022.
The potential IPO reflects surging investor confidence in Airtel Africa (with a 2.6 billion valuation). Despite facing stiff competition from M-Pesa and MTN Momo, it still boasts a large user base among African mobile money providers with over 150 million active customers.
