Airtel Africa mobile money biz gets $100 million infusion from Mastercard
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Last Updated: Apr 01, 2021, 02:13 PM IST
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Mastercard will invest $100 million in Airtel Mobile Commerce BV (AMC BV), a wholly owned arm of Airtel Africa plc.
AMC BV is the holding company for several of Airtel Africa s mobile money operations.
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KOLKATA: Airtel Africa has signed a deal to sell a 3.75% stake in its mobile money operations to global payment processor Mastercard Inc for $100 million, valuing the business at $2.65 billion.
Under the agreement, Mastercard, via one of its wholly-owned arms, will invest $100 million in Airtel Mobile Commerce BV (AMC BV) a wholly owned arm of Airtel Africa plc. AMC BV is the holding company for several of Airtel Africa s mobile money operations and is intended to own and operate the mobile money businesses across all of Airtel Africa s fourteen operating countries.