Mastercard to invest $100 million in Airtel Africa's mobile money unit

Reuters / Updated: Apr 1, 2021, 04:03PM IST

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Mastercard to invest 100 million in Airtel Africas mobile money unit

Mastercard Inc will invest $100 million in Airtel Africa's mobile money operations valuing the business at $2.65 billion, the London-listed company said.

Mastercard will hold a minority stake in Airtel Mobile Commerce, in line with Airtel Africa's plan to monetise the mobile money business by selling up to a 25% stake in the unit, the company said.

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