Mastercard will invest $100-million in Airtel Africa’s mobile money operations, valuing the business at $2.65-billion, the London-listed company said on Thursday.
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London-listed Helios Towers has reached agreements to buy and deploy over 2 500 high sites from and for Airtel Africa Group in deals that potentially give it access to four “attractive new markets”.
Facebook and Google are spending billions trying to get more people online in Africa, but the Internet giants are facing a backlash from governments worried about technology being used to remove them from power.
Airtel Africa plans to sell about 4 500 telecommunication towers across five countries including Tanzania and Madagascar to help reduce $3.5-billion of debt and prepare for looming bond repayments.
Helios Towers rose 1.8% in London after raising R5.4-billion in a long-delayed share sale that gives investors a foothold in Africa’s fast-growing wireless tower industry.
Interswitch, a Nigeria-based payments firm, has hired advisers to resurrect plans for a stock-market listing in London and Lagos later this year, people familiar with the matter said.
JPMorgan Chase & Co is hiring in sub-Saharan Africa as the New York-based bank works with companies to list their shares in London despite Brexit uncertainty.
Bharti Airtel’s Africa unit plunged in London trading after raising about $750-million in an initial public offering, making it among the worst debuts on European exchanges this year.
Former MTN group chief commercial officer Christian de Faria has been appointed as the new CEO of Bharti Airtel in Africa. De Faria “retired” from MTN in January after six years with the telecommunications group. According to a report in India’s
MTN South Africa chief technical officer Lambo Kanagaratnam is moving to a new role at the operator. Effective immediately, he will head up its enterprise business division. Airtel Africa chief technology officer Eben Albertyn has taken the reins from Kanagaratnam. Albertyn was formerly chief technology officer for MTN