Airtel Africa Eyes IPO for Mobile Money Arm, Taps Citi Group as Advisor- Bloomberg Reports Bloomberg reports Airtel Africa plans a 2026 IPO of Airtel Money. We unpack timing, valuation, and impact in Nigeria, Kenya, Uganda, and Francophone Africa.

Airtel Africa is preparing to take its mobile money arm, Airtel Money, public in the first half of 2026, with Citigroup advising on the process, a Bloomberg report shows. 

The move is part of a long running plan by the telecom operator to unlock value from its fast growing financial services business, which has become a core driver of revenue and profitability across its African markets.

Executives have already begun meeting investors in Dubai, a signal that the Gulf region could play a significant role in shaping the offering. While the company has not committed to a final decision on timing, venue, or valuation, Bloomberg notes that London, the UAE, and other European financial hubs are under active consideration.

Why Airtel Money matters

Mobile money has transformed into a cornerstone of Airtel Africa’s business model. By June 2025, Airtel Money counted 45.8 million users, handling an annualised transaction volume of USD 162 billion. 

Earlier reporting from Bloomberg suggested the business could fetch a valuation of over USD 4 billion, though that figure could shift significantly depending on market appetite. 

Given the current wave of interest in African fintech and digital finance, investors may see Airtel Money as a proxy for the continent’s broader digital transformation.

The timing of the IPO is particularly notable. Initially, Airtel Africa had signaled a 2025 listing. 

Pushing this to 2026 suggests the telco’s cautious approach in light of global market volatility. Investor sentiment toward emerging markets remains sensitive to rising interest rates, currency swings, and capital outflows. 

By waiting, Airtel sends a signal of positioning itself to capture more favorable conditions and possibly higher valuations once markets stabilize.

Moreover, floating Airtel Money separately would allow Airtel Africa to raise capital without diluting its core telecom business. It also creates optionality with proceeds being used to reduce debt, expand 5G infrastructure, or deepen financial services offerings across high growth African markets.

Competitive and regional dynamics

Airtel’s move also comes against a backdrop of intensifying competition. Safaricom’s M-Pesa, long the dominant mobile money player in East Africa, has demonstrated how payments businesses can outgrow their telecom origins.

Additionally, a successful IPO would shine a spotlight on Africa’s digital economy, offering global investors a liquid entry point into the continent’s fintech sector. 

Regional Impact

The IPO has different implications across Airtel Africa’s core markets.

As Airtel Africa’s largest market by revenue, Nigeria will be a key test bed for Airtel Money’s growth story. 

The Central Bank of Nigeria has gradually eased restrictions around mobile money operators, but regulatory unpredictability and currency volatility could weigh heavily on investor confidence. 

If Airtel Money succeeds in Nigeria, it would validate the business model across West Africa.

Kenya, the home turf of M-Pesa, will be a crucial battleground. While Airtel Money lags behind Safaricom in market share, an IPO could provide resources to expand aggressively. 

For Uganda and Tanzania markets, mobile money penetration is already deep, and Airtel enjoys significant market share. 

A successful IPO could channel fresh investment into upgrading platforms, expanding agent networks, and capturing rural markets where cash is still dominant.

Countries such as Chad, Congo Brazzaville, and Gabon represent Airtel’s frontier markets. 

Here, mobile money adoption is growing fast but remains underdeveloped compared to East Africa.