Airtel Africa has picked Citigroup to work on an initial public offering of its Airtel Money mobile financial services unit, with investor meetings already under way in Dubai as of September 2025, Bloomberg News reported, citing people familiar with the matter. The listing, being considered for the United Arab Emirates or London, is targeting the first half of 2026 and could value Airtel Money at more than $4 billion.
The plans had not been made public by the company.
AIRTEL MONEY'S COMMERCIAL SCALE
Airtel Money reported 45.8 million customers as of 30 June 2025 (the first quarter of Airtel Africa's 2026 financial year), a year-on-year increase of 16.1%. The platform's annualised transaction value reached $162 billion in the same period.
Airtel Money operates across multiple sub-Saharan African markets, offering person-to-person transfers, merchant payments, savings products, and cross-border remittance services. The platform competes in several markets with M-Pesa, the Safaricom-owned mobile money service that set the standard for mobile financial services in East Africa.
LISTING VENUE AND TIMELINE
Airtel Africa is itself listed on the London Stock Exchange. Management has not yet made a public statement confirming the listing destination or the precise deal structure.