The Rise Fund Invests in Africa

Sourced from Comms MEA Airtel Africa is set to sell a minority stake – worth $200 million – in Airtel Mobile Commerce BV (AMC BV) to global investment company, The Rise Fund. “The transaction is subject to customary closing conditions including necessary regulatory filings and approvals, as necessary, and the inclusion of specified mobile money business assets and contracts into AMC BV,” reveals the company. According to TechCrunch, this deal values the mobile money business at $2.65 billion with operations across 14 African countries, including Kenya, Uganda and Nigeria. “Our markets afford the substantial market potential for mobile money services to meet the needs of the tens of millions of customers in Africa who have little or no access to banking and financial services, and this dema...