MTN Values Mobile Money Arm at UGX18 trillion (US$5b), Considers IPO
Customers at an MTN Mobile money booth. MTN Money Uganda Ltd controls the biggest market share of mobile lending in Uganda
MTN Group Ltd. values its mobile money arm at about US$5 billion (UGX18 trillion) and will consider a listing of the division, joining African wireless carriers trying to monetize a service that is particularly popular on the continent.
The move comes after Mastercard Inc. and TPG Holdings LP invested $300 million in Airtel Africa Plc’s mobile-money business at a $2.65 billion value.
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