SNG: Africa: International Finance Corporation backs Airtel Money IPO with $90mln

By Zawya06:32 (UTC), 2 October 2026 Updated

By Staff Writer

World Bank’s investment arm, International Finance Corporation (IFC), has committed $90 million to buying shares in Airtel Money’s initial public offering, endorsing the share sale at the London Stock Exchange.

The IFC is the cornerstone investor of the share offer in which Airtel Money is selling 270 million shares at £1.96 ($2.56) per share.

Airtel Money is the fintech arm of telecommunication giant Airtel Africa, which is in turn majority-owned by Bharti Airtel, one of the largest telecom groups in the world, founded by Sunil Mittal and listed on the National Stock Exchange of India and Bombay Stock Exchange.

V., the digital financial services arm of Airtel Africa, as a cornerstone investor in the Company’s proposed IPO on the London Stock Exchange,” states disclosures from IFC.“The project is expected to generate meaningful development impact across financial inclusion, private sector development, and capital market deepening in sub-Saharan Africa.”Airtel Africa has a majority shareholding of 77.85 percent in the mobile money business with other existing minority holders including global private equity firm TPG, Mastercard, the Qatar Investment Authority, and Chimetech Holding, which collectively invested $550 million in 2021.

The price of $2.56 per share values the company at $7 billion.

The company does not intend to raise funds during the share sale with existing shareholders selling down portions of their equity.

Airtel Africa reported a 31 percent revenue growth to $1.853 billion for the financial year ended June 30, 2026, supported by double-digit constant revenue growth across all segments, with mobile services revenue growing by 19.1 percent and mobile money growing by 25.8 percent.“Airtel Money continues to expand financial inclusion across our markets and unlock new growth vectors. Annualised total payment value in excess of $245 billion increased 51.5 percent, reflecting the strength of engagement across the ecosystem, as the suite of product continues to expand and digital adoption underpins the customer experience,” said Airtel Africa CEO Sunil Taldar.