Airtel Africa receives $200m investment

Telecommunications and mobile money services company Airtel Africa has received a $200 million investment.

The money, invested by Qatar Investment Authority (QIA) affiliate Qatar Holding, will be spent on Airtel Mobile Commerce BV (AMC BV), a subsidiary of Airtel Africa.

The company, which has a presence in 14 countries across Africa, is now valued at $2.65 billion.

Earlier this year AMC BV received a $200 million investment from TPG’s The Rise Fund and $100 million funding from Mastercard.

The company also sold off its telecommunication tower businesses in Madagascar and Malawi in March.

AMC BV serves as the holding company for several of the wider business’ mobile operations. The subsidiary will own and operate mobile money businesses across all of Airtel Africa's operating countries.

"With today's announcement we are pleased to welcome QIA as a prospective investor in our mobile money business, joining both Mastercard and TPG's The Rise Fund as a further partner to help us realise the full potential from the substantial opportunity to bank the unbanked across Africa," said Raghunath Mandava, chief executive, Airtel Africa.

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