Airtel Africa Plc has officially engaged Citigroup Inc. to prepare for an initial public offering (IPO) of its fast-growing mobile money arm, Airtel Money, targeting a listing in the first half of 2026. The move reflects the company’s strategy to unlock value from its digital finance business and attract global investment.
Airtel Money has made impressive strides in user growth and transaction volumes. As of Q2 2025, the platform served 45.8 million users, with an annualised transaction value reaching $162 billion. The unit’s valuation is projected to exceed $4 billion, with some estimates placing it around $4.9 billion.
Financial performance underpins the IPO plan. Airtel Africa posted a 22% year-on-year revenue growth, topping $1.42 billion in Q2, while profit after tax surged 408% to $156 million. Airtel Money specifically added 6.3 million users in the quarter (16.1% growth) and saw transaction value increase 35% year-on-year—a clear indicator of its critical contribution to the group’s growth trajectory.
The IPO aligns with the continent-wide fintech boom: the African mobile money sector is expected to grow at an 18.3% compound annual growth rate (CAGR) through 2033. Airtel Money’s expanding market penetration—especially in under-served regions like Nigeria—and competitive inroads, such as a 9.1% market share in Kenya, underscore its strategic positioning against incumbents like M-Pesa and MoMo.
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