Economy
Airtel Eyes Mobile Money Business Listing After Sale of $200m Shares
By Dipo Olowookere
There are plans to list the mobile money business of Airtel Africa Plc, popularly known as Airtel Money, on the stock exchange, hopefully in the next four year, the telecommunications giant has disclosed.
Presently, Airtel Africa, which operates in about 14 countries on the continent, trades its equities on the London Stock Exchange (LSE) and the Nigerian Exchange Regulation Limited (formerly the Nigerian Stock Exchange).
Airtel Africa operates a mobile money business that provides financial services similar to banks like deposits and withdrawals, merchant and commercial payments, benefits transfers, loans and savings, virtual credit card and international money transfers.
Airtel Mobile Money Business Valuation
In a notice to the investment community on Thursday, the firm said the subsidiary, operating legally under the name Airtel Mobile Commerce BV (AMC BV) and is wholly owned by Airtel Africa, is worth about $2.65 billion on a cash and debt-free basis.
However, in order to expand the operations and bring in more hands to achieve this goal, Airtel Africa is willing to let go a 25 per cent stake in the company to minority investors.
In view of this, the global impact investing platform of a leading alternative investment firm, TPG, known as The Rise Fund, has agreed to invest $200 million in the business “through a secondary purchase of shares in AMC BV from Airtel Africa.”
About the deal
Business Post gathered from the notice that the transaction would be done in two tranches with $150 million supplied in the first “once the transfer of sufficient mobile money operations and contracts into AMC BV has been completed, with $50 million to be invested at second close upon further transfers.”
According to the disclosure from Airtel Africa, “The transaction is expected to reach first close over the next three to four months.”
“From the first close, The Rise Fund will be entitled to appoint a director to the board of AMC BV and to certain customary information and minority protection rights,” it added.
Airtel Africa, TPG Executives Speak
A partner at TPG, who leads Africa investing for The Rise Fund, Mr Yemi Lalude, explained his firm decided to invest in Airtel Money because it plans “to enhance the mobile money services, broaden its use cases and grow into new markets.”
The CEO of Airtel Africa, Mr Raghunath Mandava, explained that the telco agreed to have the fresh investor on board because it was “in line with our vision of enhancing financial inclusion” and that the firm has the capacity “to help us realise the full potential from the substantial opportunity to bank the unbanked across Africa.”
Airtel Africa on the stock exchange
In July 2019, Airtel Africa listed its shares on the Nigerian bourse. The listing came barely a month after its industry rival MTN Communications joined the exchange through a secondary listing.
During the listing, the exchange admitted a total of 3.758 billion shares of Airtel Africa on its main board at an offer price of N363 each, boosting the market capitalisation of the NGX by N1.36 trillion at the point of listing.
The then CEO of the exchange, Mr Oscar Onyema, had said, “This listing serves to deepen the telecoms and technology sector for investors and provides an opportunity for a wider group of Nigerians to be part of the African telecoms growth story.”
Mr Onyema had further said, “Today’s listing is a promising development in Africa with Airtel Africa being the second company to have its ordinary shares listed on both the London Stock Exchange and The Nigerian Stock Exchange.”
Value of the company’s shares now
At the close of business on the exchange on Wednesday, the value of Airtel Africa stood at N930 per unit, indicating an increase of 156.2 per cent.
By Aduragbemi Omiyale
One of the leading healthcare firms in Nigeria, Fidson Healthcare Plc, has listed additional shares on the Nigerian Exchange (NGX) Limited.
The new stocks absorbed into the stock market were 600 million units, raising the total issued and fully paid-up shares of Fidson to 3,000,000,000 ordinary shares of 50 Kobo each from 2,400,000,000 ordinary shares of 50 Kobo each.
The fresh equities came from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share.
They were issued to existing investors on the basis of one new ordinary share for every existing four ordinary shares held as of the close of business on Wednesday, November 12, 2025.
Confirming the development, the regulator in a notice said, “Trading licence holders are hereby notified that an additional 600,000,000 ordinary shares of 50 Kobo each of Fidson Healthcare Plc were on Tuesday, June 2, 2026, listed on the daily official list of Nigerian Exchange Limited.
“The additional shares arose from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share on the basis of one new ordinary share for every existing four ordinary shares held as at the close of business on Wednesday, November 12, 2025.
“With the listing of the additional 600,000,000 ordinary shares, the total issued and fully paid-up shares of Fidson Healthcare Plc have now increased from 2,400,000,000 to 3,000,000,000 ordinary shares of 50 Kobo each.”
By Modupe Gbadeyanka
This news will surely excite local contractors with verified claims of N100 million or less, as the federal government has approved their payments.
This approval for the disbursement was given by the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele.
This followed a verification and reconciliation exercise designed to ensure only validated claims qualify for payment.
The beneficiaries cover contractors across multiple ministries, departments and agencies. The release of the funds is expected to enable contractors to return to project sites, pay workers, settle suppliers and meet outstanding financial commitments.
In an announcement on Monday, the Federal Ministry of Finance also said this latest batch of payments would ease liquidity pressure on small businesses and accelerate economic activity nationwide.
It was noted that the payments for verified claims of N100 million below were strategically done to spread economic impact broadly rather than concentrate disbursements among a handful of large firms.
The payments form part of a broader push to clear inherited contractor obligations, with over N700 billion verified in recent months.
“For many beneficiaries, the release of funds represents more than a financial transaction. It provides the certainty needed to sustain operations, preserve jobs, complete ongoing projects, and contribute to economic recovery and growth,” the ministry said in a statement.
By Aduragbemi Omiyale
Lagos State is currently agog because of the high-profile guests in the city for the Invest in Lagos Summit 3.0 commencing today, Monday, June 8, 2026.
The programme, which ends tomorrow, is themed Lagos: Business Gateway to Africa. It will feature a line-up of sessions focused on Lagos as Africa’s Global Gateway, the Future of Technology and Innovation, Unlocking Investment, Building the Cities of the Future, Global Partnerships for Growth, Talent, Creativity and Culture, and Energy and Sustainability.
The event is being put together by the Lagos State government and Commonwealth Enterprise and Investment Council (CWEIC).
The venue of the summit, Eko Hotel and Suites, is already lively, with the Lagos State Governor, Mr Babajide Sanwo-Olu; the Minister of Finance and Coordinating Minister for the Economy, Mr Taiwo Oyedele; the co-chair of the Lagos Finance and Investment Council (LFIC), Aigboje Aig-Imoukhuede; and the chief executive of Moniepoint Incorporated, Mr Tosin Eniolorunda, amongst others expected to speak.
The workshop is designed to position Lagos as Africa’s premier destination for investment, trade, innovation, infrastructure development, and economic partnerships.
It is focused on unlocking investment opportunities and accelerating sustainable economic growth. It will bring together high-level participants from across the public and private sectors to explore opportunities in technology, infrastructure, energy, manufacturing, finance, creative industries, and urban development.
According to the Lagos Commissioner for Information and Strategy, Mr Gbenga Omotoso, the programme has been carefully structured to move beyond conversations and focus on actionable outcomes that can stimulate investment inflows into Lagos State.
He said the conference will provide a platform to showcase the state’s investments in transportation, technology, energy, manufacturing, tourism, and urban development, while also highlighting opportunities for local and international investors.
“Invest in Lagos 3.0 is more than a conference; it is a strategic platform designed to connect investors with opportunities, facilitate meaningful partnerships, and showcase Lagos as Africa’s most attractive investment destination.
“Through this summit, we are bringing together government leaders, global investors, development institutions, and business executives to explore opportunities that will unlock growth, create jobs, and accelerate economic development across Lagos and Nigeria,” the Commissioner, who doubles as the Head of the Media Subcommittee, stated.
The gathering will also feature investment pitches by governors, exhibitions by participating organisations, networking opportunities, a gala dinner, and site visits to major infrastructure and industrial projects, including the Dangote Petroleum Refinery, Lagos Free Zone, Lagos Port, and RusselSmith’s advanced manufacturing facility.
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