Bharti Airtel’s African fintech arm, Airtel Money, is preparing for a major public debut that could raise between $1.5 billion and $2 billion through an initial public offering (IPO), according to multiple reports. The proposed listing is expected to value the mobile money business at nearly $10 billion, potentially making it one of the biggest fintech IPOs seen on a European exchange in recent years.
Sources familiar with the matter said the IPO is likely to take place in London, although other international exchanges were explored earlier during discussions. Airtel Africa is reportedly working with Citigroup as the lead adviser, while additional banks may also join the transaction process.
The move comes as Airtel Africa looks to unlock greater value from its rapidly expanding digital payments and financial services business. Airtel Money has emerged as one of the company’s strongest growth drivers across Africa, benefiting from increasing smartphone adoption and rising demand for digital banking services in underserved regions.
Recent business figures underline the scale of the platform’s expansion. Airtel Money’s revenue climbed nearly 30% year-on-year to around $986 million during the first nine months of the financial year, while its customer base crossed 52 million users across 14 African countries. Annual transaction volumes on the platform have also surged sharply as more consumers adopt mobile-based payments, transfers, and merchant services.
Industry analysts believe the IPO could strengthen investor confidence in Africa’s growing fintech ecosystem. Mobile money services are increasingly becoming a critical financial infrastructure in regions where traditional banking penetration remains limited. Airtel Money’s growth trajectory has also drawn comparisons with other successful African digital payment platforms.
However, Airtel Africa recently indicated that market volatility and geopolitical uncertainty could push the listing timeline into the second half of 2026. Rising global energy prices and supply chain disruptions have created tougher market conditions for new listings worldwide. Despite the delay concerns, the company has reiterated that preparations for the IPO are continuing as planned.
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