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Airtel Africa scoops another $200m for mobile money business

Airtel Africa scoops another $200m for mobile money business
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Airtel Africa gets an extra $200M for its mobile money business from QIA – TechCrunch

Today, the African telecoms operator said it has secured another investment for its mobile money arm. The investor? Qatar Holding LLC, an affiliate of the Qatar Investment Authority (QIA), the sovereign wealth fund of the State of Qatar, with over $300 billion in assets. The Middle Eastern corporation is set to invest $200 million into AMC BV through a secondary purchase of shares from Airtel Africa. AMC BV is an Airtel Africa subsidiary and the holding company for several of Airtel Africa’s mobile money operations across 14 African countries, including Kenya, Uganda and Nigeria. The mobile money arm operates one of the largest financial services on the continent. It provides users access to mobile wallets, support for international money transfers, loans and virtual credit cards.

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