Business Daily | by Victor Juma
Airtel Africa is set to sell an undisclosed minority stake in its Pan-African mobile money business to private equity firm TPG for $200 million (Sh21.9 billion), underlining the huge value of mobile financial service platforms.
The multinational announced the transaction Thursday through the London Stock Exchange where it is listed.
The record-breaking deal values Airtel Money, available in Share sale to private equity comes amid struggle to cut M-Pesa dominance in the Kenyan market 14 African countries including Kenya, Malawi and Uganda, at $2.65 billion (Sh291 billion).
