Airtel Africa is planning to list its mobile money business in a deal that could raise between $1.5 billion and $2 billion, as the telecom operator seeks to capitalize on rapid growth in digital financial services across the continent, according to people familiar with the matter.
The proposed initial public offering of Airtel Money could value the business at as much as $10 billion, the sources said, adding that discussions are ongoing and details remain subject to change.
The listing, which is expected to take place in London, would mark one of the largest fintech-focused IPOs tied to Africa and underscores the growing importance of mobile money as a revenue driver for telecom operators in the region.
Airtel Africa, a subsidiary of India’s Bharti Airtel, has seen strong growth in its mobile money segment, which now serves tens of millions of customers across multiple African markets and processes billions of dollars in transactions annually.
The potential spin-off reflects a broader industry trend in which African telecom operators are increasingly separating their fintech arms to unlock value and attract investors focused on high-growth digital financial services.
Airtel Africa did not immediately respond to a request for comment.