Bharti Airtel’s Africa subsidiary is preparing for a potential initial public offering (IPO) of its mobile money business and has appointed Citigroup as an adviser, Bloomberg reported citing sources.
The development marks a significant step for billionaire Sunil Mittal-led Airtel Africa as it looks to unlock value in its fast-growing financial services arm. The mobile money unit has seen rapid adoption across key African markets, emerging as a critical growth driver beyond traditional telecom services.
While the timeline and size of the IPO have not yet been disclosed, the move is expected to help Airtel Africa strengthen its balance sheet and tap into investor appetite for digital financial services in emerging markets.
Disclaimer: This article is based on information reported by Bloomberg. It does not constitute investment advice.