Airtel Money, the mobile payment subsidiary of Airtel Africa, is set to list on the London Stock Exchange, marking a significant development for the city’s financial hub. The company, which operates across 13 countries in sub-Saharan Africa—including Zambia, Uganda, and the Democratic Republic of Congo—serves 53 million active monthly users. Its network, comprised of various kiosks and physical branches, allows customers to manage digital wallets, perform cash withdrawals, and access essential financial services. Airtel Money, the mobile money arm of Airtel Africa, is planning one of the biggest UK listings in years, in a boost for the shrinking London market that has faced a string of recent departures. According to airtel Africa is already listed on the FTSE 100 but, It wanted Airtel Money to be listed separately.
For the last financial year, the firm reported revenues just shy of $1.4 billion. Financial performance remains robust, with revenues for the quarter ending June 30 climbing 38% to £399 million. The parent entity, Airtel Africa, which is part of the Bharti Enterprises conglomerate owned by Indian billionaire Sunil Bharti Mittal, will retain a significant stake of nearly 78% following the market debut. Other minority shareholders, such as the Qatar Investment Authority, TPG, Mastercard, and Chimetech Holding, will also maintain their interests as the company remains a long-term investment for its parent.
Airtel Money’s chief executive, Ian Ferrao, stated that the move provides essential flexibility for the organization’s future operations. Ferrao noted that while the team evaluated various international exchanges—including options in the Middle East due to the company’s Dubai headquarters, as well as North American and European venues—shareholders ultimately identified London as the superior choice. He emphasized that the City retains a profound understanding of emerging markets, particularly across Africa, alongside deep access to global institutional capital. We still believe there is deep capital available … all the global institutional investors are here.”.
The company intends to raise roughly $800 million (£601 million) through the initial public offering, eyeing an overall valuation between $8 billion and $9 billion. This anticipated flotation represents one of the most substantial debuts since the international payments firm Wise listed in 2021 with an £8.75 billion valuation. Airtel Money plans to provide further details regarding the indicative pricing and share allocation in early October, with a final valuation to be settled later in the month.
This listing, however, comes after a strategic delay. Originally scheduled for the first half of 2026, the IPO was pushed back to the second half of the year due to market volatility stemming from the US-Israeli conflict with Iran. This period of instability led several other firms to postpone their listing plans. By choosing London, Airtel Money is offering a vital endorsement to an exchange that has recently struggled with a dearth of new listings and a trend of companies departing for foreign markets. Blaming unfavourable market conditions as a result of the US-Israeli war on Iran, airtel Africa had originally targeted a listing in the first six months of 2026 but delayed it to the second half of the year. Nils Pratley: Does this mark the end of London’s listing drought.
