Airtel Money Eyes $4 Billion Valuation with Potential IPO
This move comes after Airtel Money saw a 31.8% revenue growth, as of December 2023.
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.
