London and Lagos, 16 November 2021: Airtel Africa, a major provider of telecommunications and mobile money solutions, with a existence in 14 nations around the world across Africa, today announces 2nd closing relating to the Airtel Cash minority expense transactions with TPG’s The Rise Fund, Mastercard and QIA earlier announced by the Group on 18 March 2021, 1 April 2021 and 30 July 2021 respectively.

With the disorders for 2nd closing having now been satisfied, TPG and QIA have every invested a even more $50m, and Mastercard a even more $25m, in the secondary buy of shares in AMC BV from a subsidiary of Airtel Africa.

Both equally QIA and TPG each individual appointed a director to the board of AMC BV on the initial closings. With these second closings, Airtel Africa will have acquired a whole of $500m cumulative proceeds from the minority stake profits in Airtel Funds from the a few investors. As formerly documented, the proceeds from these secondary stake sale transactions will be utilised to decrease Team credit card debt and devote in network and income infrastructure in the respective functioning countries.

-Finishes-

Enquiries

Airtel Africa – Investor Relations                                                     +44 7446 858 280
Pier Falcione                                                                                                    +44 7464 830 011
Morten Singleton
[email protected]                                                         +44 207 493 9315

Hudson Sandler
Nick Lyon
Bertie Berger
[email protected]                                                                +44 207 796 4133

About Airtel Africa
Airtel Africa is a major supplier of telecommunications and cell funds providers, with a presence in 14 countries in Africa, mostly in East Africa and Central and West Africa.

Airtel Africa offers an built-in suite of telecommunications methods to its subscribers, together with cell voice and information services as very well as cell funds products and services, both equally nationally and internationally.

The Team aims to continue on offering a straightforward and intuitive shopper working experience by means of streamlined shopper journeys.

For much more info pay a visit to www.airtel.africa

Simon O’Hara
Team Enterprise Secretary


LEAVE A REPLY

Please enter your comment!
Please enter your name here