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Andrew Bonwick
Vice President of Product Development at Relm Insurance
Madhav Sheth
CEO of Ai+ Smartphone
Stephen Rose
CEO Render Networks
The African unit of Bharti Airtel has bagged a new deal with Qatar Holding LLC, an affiliate of Qatar Investment Authority (QIA), to sell its 7.5% stake of the mobile unit for around $200 million. The development comes under the fundraising activities carried out by Bharti Airtel to reduce the financial burden and invest in the network. As reported by ET Telecom, the inclusion of Qatar’s sovereign wealth fund will happen through Airtel Mobile Commerce BV (AMC BV), which is the primary holding entity for several mobile money operations of Airtel Africa. The Airtel Mobile Commerce BV (AMC BV) will eventually own and operate such mobile money entities across 14 operating countries of Airtel Africa once the inclusion process is finished.
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Airtel Africa has Signed Deals With Mastercard and TPG
Airtel Africa has been signing new deals extensively. Some time back, the entity sold a nearly 3.75% stake in its mobile unit to renowned payment processor MasterCard Inc for $100 million. Not only this, but Airtel also bagged a deal of $200 million from the US private equity firm TPG by selling a 7.5% stake in the mobile money business. Airtel Africa commented on the new deal and stated that QIA would hold a minority stake in AMC BV once the transition is finished, with Airtel Africa as the majority stakeholder. Also, the transaction proceeds will be used to reduce the debt and help the telco invest in network and sales infrastructure.
