Airtel Money is preparing for a public listing on the London Stock Exchange as part of plans to strengthen its capital base and expand its footprint across Africa.
The mobile financial services arm of Airtel Africa is seeking to raise between Ksh194 billion and Ksh258 billion through the proposed Initial Public Offering (IPO), according to reports by Bloomberg.
If successful, the transaction could place Airtel Money’s valuation at nearly Ksh1.29 trillion, positioning the firm among the major African-linked listings on the European market.
Airtel Money currently operates in 14 African countries, offering services such as digital payments, money transfers, savings products, and micro-loans through Airtel Africa’s telecom network.
The planned listing follows remarks made in February by Airtel Africa Chief Executive Officer Sunil Taldar, who indicated the company intended to float Airtel Money during the first half of 2026.
Citigroup Inc. is leading advisory work on the IPO, with additional investment banks expected to join the transaction team.
The mobile money platform has already attracted major international investors, including TPG Inc., Mastercard Inc., and an affiliate of the Qatar Investment Authority.
Airtel Money Posts Strong Growth
For the financial year ending December 31, 2025, Airtel Money reported a 29.4 percent rise in revenue on a constant currency basis and a 34.9 percent increase in reported terms, according to Airtel Africa’s financial disclosures.
The platform’s customer base also expanded significantly, with mobile money subscribers climbing 17.3 percent to reach 52 million users.
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“Airtel Money continues to scale,” the company noted in its Q3 2026 results, highlighting that the business had surpassed the 50 million customer mark.
During the same period, the annualised total processed transaction value exceeded Ksh27.19 trillion, reflecting a 36 percent jump and comfortably beating earlier projections of Ksh25.9 trillion.
Data revenue within the broader business rose by 36.5 percent, while voice revenue grew by 13.5 percent.
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Improved operating performance, alongside derivative and foreign exchange gains estimated at Ksh12.8 billion, pushed profits to Ksh75.6 billion, reversing a previous loss of roughly Ksh19.7 billion recorded in the earlier comparable period.
The company maintained EBITDA margins above 50 percent in the third quarter, with wallet services and money transfers contributing nearly 90 percent of mobile money revenue.
Airtel Africa’s wider customer network, now standing at 179.4 million users, continues to provide a substantial growth platform for Airtel Money as it moves closer to the London listing.
