Airtel Money, the mobile‑money arm of Airtel Africa, has announced plans to float on the London Stock Exchange in what could be the city’s largest listing in recent years. The company aims to raise roughly $800 million and target a valuation between $8 billion and $9 billion, offering a significant boost to a London market that has seen a string of high‑profile departures.
The payments firm serves 53 million monthly active users across 13 sub‑Saharan African countries, including Uganda, Zambia and the Democratic Republic of Congo. It operates through a network of branches and kiosks that allow customers to load money onto phones, withdraw cash and access other services. In the most recent financial year, Airtel Money generated just under $1.4 billion in revenue.
Airtel Money is a subsidiary of Airtel Africa, which is listed on the FTSE 100 and is part of the Indian conglomerate Bharti Enterprises, ultimately controlled by billionaire Sunil Bharti Mittal. Airtel Africa owns about 78 % of the payments business and will remain a long‑term investor after the IPO. Minority shareholders include TPG, Mastercard, the Qatar Investment Authority and Chimetech Holding. Airtel Money’s chief executive, Ian Ferrao, said the listing would provide flexibility for future growth and that London was chosen for its deep capital markets and strong understanding of emerging markets.
The company will reveal further details in early October, including the price range and number of shares to be offered, with final pricing later that month. Airtel Africa had originally targeted a first‑half 2026 listing but postponed to the second half because of market volatility linked to the US‑Israeli war and its impact on the global economy. A successful float could signal a turning point for the City, helping it attract large debuts after recent losses of listings such as Wise, which moved its main listing from London to New York.
