Airtel Africa to sell 7.5% stake in mobile money unit to QIA for $200-M

Airtel Africa has inked a deal to sell roughly a 7.5% stake in its mobile money unit to Qatar Holding LLC, an affiliate of Qatar Investment Authority (QIA), for around USD 200 million. Infusion by Qatar's sovereign wealth fund will happen via Airtel Mobile Commerce BV (AMC BV), the holding company for several of Airtel Africa's mobile money operations. AMC BV, one of Airtel Africa Plc's wholly owned arms, will eventually own and operate such mobile money businesses across Airtel Africa's 14 operating countries once inclusion of these businesses under AMC BV is concluded.