Airtel Africa Cuts Airtel Money IPO Target to $800 Million

Airtel Africa Plc is considering a significant reduction in its initial public offering (IPO) target for its mobile money business, Airtel Money, by up to 60%, now aiming to raise at least $800 million. This adjustment comes after the previous target range of $1.5 billion to $2 billion.

The revised target represents a 46.7% decrease from the lower end and a 60% decrease from the upper end of the original estimates. The IPO is expected to be filed as early as next week, with trading on the London Stock Exchange anticipated to start in October 2026.

This proposed listing is part of a broader effort by London to attract major new listings amid a decline in first-time offerings since 2022. Airtel Money has shown strong growth, with a 40% year-on-year revenue increase and a customer base expansion to 54.1 million by March 2026.

The mobile money business processed $196 billion in transaction value during the 2025/26 financial year, highlighting its importance to Airtel Africa's overall financial performance.