By Adedapo Adesanya

Airtel Africa will delay the planned ​Initial Public Offering ​(IPO) of its mobile money ⁠business, Airtel Money, to the ​second half of ​2026, citing market uncertainties amid the ongoing Middle East ​war.

The telecoms ​group had earlier planned to list Airtel ‌Money ⁠in the first half of this year, but said that rising ​energy ​costs ⁠stemming from the war would ​likely result in ​higher ⁠inflation, which would weigh on its ⁠near-term ​profit margins.

The company controlled by billionaire Sunil Mittal’s Bharti Enterprises Limited could now raise between $1.5 billion and $2 billion selling shares in London, from a previously expected $4 billion.

London emerged as the most likely venue, although exchanges in the United Arab Emirates (UAE) and other parts of Europe have also been considered.

The delay will make it possible to finalise decisions on timing, valuation, and location.

The planned IPO reflects a broader strategy by Airtel Africa to unlock value from its mobile money unit, which has become a key growth driver as traditional telecom revenues face pressure.

Airtel Africa, which operates in 14 countries and is dual-listed in London and Lagos, is majority-owned by Indian billionaire Sunil Mittal through Bharti Enterprises.

The group has long signalled plans to spin off or list Airtel Money after years of rapid expansion as the mobile money sector in Africa continues to expand rapidly, driven by a young population increasingly adopting technology for financial services, making the continent a key market for fintech companies.

In September 2025, the telco reportedly picked Citigroup Incorporated as advisors for the planned IPO, which will see Airtel Money become a standalone entity before it can attain the prestige of trading on a stock exchange.

Estimating Airtel Money at around $2 billion is lower than its valuation of $2.65 billion in 2021. In 2021, Airtel Money received significant investments, including $200 million from TPG Incorporated at a valuation of $2.65 billion and $100 million from Mastercard. Later that same year, an affiliate of Qatar’s sovereign wealth fund also acquired an undisclosed stake in the unit.

Its customer base is over 52 million, compared to around 44.6 million users it had as of June 2025.

By Modupe Gbadeyanka

The Nigeria Revenue Service (NRS) has announced that from Saturday, May 9, 2026, to Saturday, June 29, 2026, its offices across the country will operate at weekends.

In a statement signed by its chairman, Mr Zacch Adedeji, on Thursday, the organisation said this is in anticipation of a rush in filing of tax returns during this period.

It was disclosed that the offices would open their doors to taxpayers on Saturdays from 10:00 am – 3:00 pm, urging taxpayers “to take advantage of this opportunity to resolve any tax- related matters, seek guidance, and ensure timely compliance with their obligations.”

The extended Saturday operations, according to the NRS, will provide additional assistance to taxpayers requiring support with the new system, facilitate seamless compliance during the June peak Companies Income Tax (CIT) filing period, and improve access to tax services outside regular weekday hours.

Recently, the tax agency launched a new tax administration platform known as Rev360. Taxpayers are still navigating their way around this initiative.

To provide additional support and service delivery to taxpayers on the rollout of the Rev360 Phase I Tax Administration System for medium and emerging taxpayers, NRS came up with the Saturday services.

In yesterday’s statement, the organisation said it remains dedicated to delivering efficient, transparent, and taxpayer-focused services.

By Adedapo Adesanya

FrieslandCampina Wamco Nigeria influenced the NASD Over-the-Counter (OTC) Securities Exchange to record its fourth consecutive growth this week by 0.21 per cent on Thursday, May 7.

The manufacturer of the popular Peak Milk and Three Crowns gained N10.26 during the session to quote at N127.06 per share compared with the previous day’s N116.80 per share.

This boosted the market capitalisation of the NASD OTC stock exchange by N5.26 billion to N2.459 trillion from N2.454 trillion, and raised the Unlisted Security Index (NSI) by 8.80 points to 4,110.38 points from Wednesday’s 4,101.58 points.

Business Post reports that the bourse recorded two price losers yesterday, led by Central Securities Clearing System (CSCS) Plc, which dipped by N2.92 to N73.08 per unit from N76.00 per unit, and UBN Property Plc lost 3 Kobo to sell at N2.20 per share compared with midweek’s closing price of N2.23 per share.

On Thursday, the volume of securities transacted by investors fell by 26.4 per cent to 372,916 units from 506,651 units, the value of securities slid by 31.8 per cent to N30.6 million from N44.8 million, and the number of deals decreased by 27.0 per cent to 27 deals from 37 deals.

When trading activities closed for the day, Great Nigeria Insurance (GNI) Plc was the most traded stock by value on a year-to-date basis, with 3.4 billion units worth N8.4 billion, trailed by CSCS Plc with 60.5 million units traded for N4.1 billion, and Okitipupa Plc with 27.8 million units exchanged for N1.9 billion.

GNI Plc also finished the day as the most traded stock by volume on a year-to-date basis, with 3.4 billion units sold for N8.4 billion, followed by Resourcery Plc with 1.1 billion units valued at N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units transacted for N1.2 billion.