April 01 - 10:04
16D
Mastercard to invest $100m in Airtel Africa's Mobile Commerce
Mastercard has announced its plans to take a minority stake in Airtel Africa’s mobile money operations, valuing the company at $2.6 billion. Mastercard will invest $100 million in the company. The investment is part of Airtel Africa’s plan to monetise the mobile money business by selling up to a 25% stake in the unit, the company said. Airtel Mobile Commerce is also backed by TPG’s Rise Fund.
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