Mastercard to invest $100m in Airtel Africa’s mobile money business

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Mastercard has agreed to invest $100m in Airtel Mobile Commerce, a wholly owned subsidiary of Airtel Africa a provider of telecommunications and mobile money services, with a presence in 14 countries across Africa.

The transaction values Airtel Africa’s mobile money business at $2.65bn on a cash and debt free basis. The proceeds from the transaction will be used to reduce Group debt and invest in network and sales infrastructure in the respective operating countries.

Source : Africa Global Funds

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