Airtel Africa to Sell Stake in Airtel Money

Sourced from Comms MEA Airtel Africa has revealed its plans to raise cash by selling a minority stake in Airtel Money – its mobile financial platform. According to Business Daily, this move is part of the company’s strategy to sell some assets. “We are actively pursuing the sale of the remaining owned tower sites that sit across several of our operating countries and the group is in discussions with various potential investors in relation to possible minority investments into Airtel Money,” reads a trading update from the telco. “Discussions are ongoing between the parties and there can be no certainty that a transaction will be concluded or as to the final terms of any transaction.” Airtel did not disclose the amount it expects to raise. However, its revenues reached $291 million across i...