Airtel Africa Revives London Listing Plans for Airtel Money

Airtel Africa has revived plans to separately list Airtel Money on the London Stock Exchange. The proposed listing could value the mobile money business at about $10 billion and raise roughly $1.5 billion.

The telecommunications company has appointed Citi to lead the syndicate, with additional investment banks being brought on board as preparations for the offering gather pace. Airtel Money had initially been targeted for a 2025 listing before the timeline shifted to 2026 due to difficult market conditions, while geopolitical tensions in the Middle East also influenced the timing and reinforced the decision to pursue a London listing.

A standalone listing is expected to separate Airtel Money’s valuation from Airtel Africa’s telecommunications business, supporting the group’s long-term strategy of establishing digital financial services as an independent business.

Airtel Money currently serves more than 54 million customers, generated about $1.35 billion in revenue in the latest financial year and processes annualised transaction values exceeding $210 billion. The platform leverages Airtel Africa’s nearly 180 million mobile subscribers and earns revenue from money transfers, payments, merchant services and other digital financial products.

In Kenya, Airtel continues to grow both its mobile and Airtel Money customer base, although Safaricom remains the market leader. Airtel Africa also views Kenya’s mature digital payments ecosystem as a key market for testing and rolling out new financial services.