Airtel Money Achieves £5.3bn Valuation on LSE Listing

Airtel Money, the digital financial services division of Airtel Africa, has officially listed on the London Stock Exchange (LSE) with an approximate valuation of £5.3 billion, following an offer priced at £1.96 per share. Conditional trading of the company's shares commenced under the ticker symbol “AMC”.

This listing is a significant milestone for the African fintech sector as Airtel Money aims to enhance its global presence. The offer involved the sale of existing shares by shareholders, with no new shares being issued or fresh capital raised.

Airtel Money, launched in 2011, currently serves around 53 million monthly active users across 13 African countries, supported by over 2.3 million local agents. Its services encompass domestic and international money transfers, payments, virtual debit cards, credit, savings, investments, insurance, and merchant transactions.

In Nigeria, Airtel Money operates through SmartCash Payment Service Bank. Ian Ferrao, CEO of Airtel Money, described the listing as a pivotal moment in the company's growth journey.

The UK government also expressed support for the listing, highlighting London’s appeal to international businesses.