MasterCard Invests $100m In Airtel Africa’s Mobile Money
The statement noted that Airtel Africa’s mobile money business was worth $2.65 billion on a cash and debt free basis.
It added that Mastercard would hold a minority stake in AMC BV upon completion of the Transaction, with Airtel Africa continuing to hold the majority stake.
“The Transaction is subject to customary closing conditions including necessary regulatory filings and approvals, and the transfer of specified mobile money business assets and contracts into AMC BV.
“Alongside the investment, the Group and Mastercard have extended commercial agreements and signed a new commercial framework which will deepen their partnerships across numerous geography areas including card issuance, payment gateway and payment processing among others’’, the statement noted.
“The combination of our extensive customer base, distribution platforms and Mastercard’s products and services, we can accelerate demand and drive growth in financial services for the benefit of all our customers and markets.”NAN