In 2025, Airtel Africa is set to launch its mobile money unit on the public stage, marking a strategic move amidst plans for expansive growth across more African nations. Presently operational in 14 countries, the service’s reach is poised to extend further.
CEO Olusegun Ogunsanya confirmed the upcoming listing, stating, “We will list next year. We will continue to bring additional countries into the envelope. We are still a year from that IPO,” while maintaining discretion on the chosen stock exchange.
Airtel Money stands as the fastest-growing segment within Airtel Africa, with a potential valuation exceeding $4 billion. This success contrasts with the company’s recent financial reports, which reflected challenges stemming from macroeconomic conditions, resulting in a significant after-tax loss of $89 million, a stark deviation from the $750 million profit of the preceding year.
Despite these financial hurdles, the mobile money division emerged as a beacon of success alongside robust data revenues. Airtel’s mobile money transactions surged by 38.2% in constant currency, surpassing $112 billion in reported currency, with a 20% year-on-year increase in customers, totaling 38 million, driven primarily by strong performances in East and Francophone Africa.
Airtel’s decision to take its mobile money unit public aligns with a broader trend of investment in African mobile money providers. Following its $100 million investment in Airtel Money two years prior, Mastercard acquired a minority stake in MTN’s mobile money division.
Airtel Mobile Money exhibits strength in six core markets, four of which are in East Africa—Zambia, Uganda, Tanzania, and Malawi—while the other two, Gabon and DR Congo, reside in Francophone Africa. CEO Ogunsanya attributed this success to various factors including first-mover advantages, robust infrastructure, and extensive distribution networks. Highlighting Airtel’s dominance in Zambia and Malawi, he noted the advantageous landscape in Uganda due to limited competition with only two operators, and in Tanzania with just three.
“Our pioneering deployment of ATMs gave us a significant edge,” Ogunsanya elaborated. “With 29,000 exclusive mobile money branches, our well-established system has been instrumental in leveraging our infrastructure effectively.”
