• About Us
  • Terms & Conditions
  • Contact Us
Tuesday, March 21, 2023
Investogist
No Result
View All Result
  • Home
  • News
    • All
    • Africa
    • Nigeria
    • World
    Gov. Elections: PDP’s Sim Fubara declared Rivers State’s Governor-Elect

    Gov. Elections: PDP’s Sim Fubara declared Rivers State’s Governor-Elect

    Businesses must accept eNaira as a form of payment – CBN

    List of companies licensed by CBN as mobile money operators

    Inclusion of Chimaroke Nnamani’s name in our list not a mistake – APC campaign

    Chimaroke Nnamani quits PDP after losing to Labour Party

    INEC disowns online voter registration website

    BREAKING: INEC suspends collation of Gov. Election results in Abia and Enugu states

    Gunmen invade Imo community, destroy properties

    Imo state House of Assembly election results announced by INEC

    NNPP wins Kano Gov. Election, curfew declared by government

    NNPP wins Kano Gov. Election, curfew declared by government

    List of #ENDSARS panel’s 32 recommendations and Lagos State Govt’s response

    Gov. Election: INEC declares Sanwo-Olu winner in Lagos State

    Chimaroke Nnamani loses Enugu East Senate Post to Labour Party

    Chimaroke Nnamani loses Enugu East Senate Post to Labour Party

    More than 70 feared dead as boat capsizes in Anambra

    Anambra state House of Assembly election results

    • Nigeria
    • Africa
    • World
  • Economy
    • All
    • Budgets
    • Economic Data
    • Policies
    Russia Economy contracts by 2.1% in 2022, far below western predictions

    Russia Economy contracts by 2.1% in 2022, far below western predictions

    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    FG explains why Nigeria’s total debt will rise to N77 trillion by the end of May 2023

    U.S unemployment fell to a five-decade low

    U.S unemployment fell to a five-decade low

    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    Nigeria’s total debt rise above N44 trillion – DMO

    FG approves 39 licences for fish importation

    Q3 2022: Nigeria’s total trade stood at N11.6 trn, total export falls nearly 20% QoQ

    Update: Central Bank of Nigeria instructs banks to close accounts related to Crypto

    JUST IN: CBN limits weekly cash withdrawal to N100k

    Law to legalize crypto as a payment method passed in Brazil

    Law to legalize crypto as a payment method passed in Brazil

    Will Nigerians in diaspora be committing an offence if they make a campaign donation?

    Rivers and Oyo State to join others in establishing small claims courts

    Non-oil sector contributes 93.67% to Nigeria’s GDP in Q2 2022

    Nigeria’s GDP growth slows to 2.25% in Q3 2022, oil sector contribution declines further

    • Policies
    • Budgets
    • Economic Data
  • Markets
    • All
    • Commodities
    • Cryptocurrencies
    • Forex
    • Rates & Bonds
    • Stocks/Equities
    Lasaco Assurance Plc suffers maximum possible loss on NSE as suspension is lifted

    The NGX-ASI lost by 0.09%, as STANBIC loses 8.52%

    Lasaco Assurance Plc suffers maximum possible loss on NSE as suspension is lifted

    The NGX-ASI Lost By 1.04%, as banking sector drops 1%

    Lasaco Assurance Plc suffers maximum possible loss on NSE as suspension is lifted

    The Local Bourse declined by 0.42%, as FLOURMILL loses 5.92%

    Again DMO offers N360 billion FGN bond for February

    The DMO auctions 4 FGN Bonds worth N360bn in March

    Guaranty Trust Holding Company profit dips to N77.56 billion in H1 2022

    The NGX-ASI Declined by 0.12%, as GTCO loses 3.08%

    Why Bitcoin fell below $20,000 for the first time in nearly 2 months

    Bitcoin rises over 18% as cryptos surge in renewed hope

    Weekly Market Report: NGX rose 0.48% as Conoil shareholders lose 18.89%

    Weekly Market Report: NGX rose 0.48% as Conoil shareholders lose 18.89%

    Lasaco Assurance Plc suffers maximum possible loss on NSE as suspension is lifted

    The NGX-ASI Gained by 0.05%, as Conoil loses another 9.95%

    Why Bitcoin fell below $20,000 for the first time in nearly 2 months

    Why Bitcoin fell below $20,000 for the first time in nearly 2 months

    • Stocks/Equities
    • Forex
    • Rates & Bonds
    • Commodities
    • Cryptocurrencies
  • Business
    • All
    • Agriculture
    • Companies
    • Industry
    • Technology
    Credit Suisse shares plunged on Monday after acquisition by rival UBS

    Credit Suisse shares plunged on Monday after acquisition by rival UBS

    Approval given for acquisition of International Energy Insurance Plc

    UBS agrees to buy troubled 167 years old rival, Credit Suisse

    Unilever Nigeria Plc Board of Directors approve Tea Business Separation Process

    Unilever Nigeria makes changes to its business model

    CAP Plc Shareholders approve N2.10kobo dividend per ordinary share for 2020 financial year

    Stanbic IBTC announced N2.00 final dividend for 2022 FY

    CEO of Ecobank Group to retire, new CEO announced

    Ecobank Transnational Incorporated announces delay in publication of 2022 result

    President Biden approves major Oil and Gas drilling project in Alaska

    President Biden approves major Oil and Gas drilling project in Alaska

    BUA Cement Plc announces N2.80 dividend for 2022 Financial Year

    BUA Cement Plc announces N2.80 dividend for 2022 Financial Year

    Obajana Cement Plant has commenced full operation – Dangote Cement Plc

    Dangote Cement Plc establishes new share buy-back programme

    MTN Nigeria proposes N23bn Commercial Paper

    MTN Nigeria completes allotment of incentive shares to Shareholders

    • Companies
    • Industry
    • Technology
  • Sports
    • Football
  • Opinion & Analysis
    • All
    • Columnists
    • Editorials
    • Investogist Business Saturday
    • Op-ed
    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    APC won Abua-Odual and Ahoada East LGAs of Rivers State as announced – INEC’s IRev

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    North-West, South-West lead as INEC registers 96.2 million, Rivers overtakes Katsina

    ELECTION: How to check your polling unit, code online

    4 things to consider before buying a laptop

    4 things to consider before buying a laptop

    How to move to Canada by starting a business – Part 1

    How to move to Canada by starting a business – Part 2

    How to move to Canada by starting a business – Part 1

    How to move to Canada by starting a business – Part 1

    Building a Successful Business Organization: Lessons from the Bible

    Building a Successful Business Organization: Lessons from the Bible

    2023 Bible Lessons on Setting your Financial/Investment Goals

    2023 Bible Lessons on Setting your Financial/Investment Goals

    Fact check: Is the Investment Peter Obi made for Anambra State worth next to nothing?

    Fact check: Is the Investment Peter Obi made for Anambra State worth next to nothing?

    • Editorials
    • Book Club
    • Investogist Business Saturday
    • Op-ed
  • Financial Education
  • Vacancies
  • Home
  • News
    • All
    • Africa
    • Nigeria
    • World
    Gov. Elections: PDP’s Sim Fubara declared Rivers State’s Governor-Elect

    Gov. Elections: PDP’s Sim Fubara declared Rivers State’s Governor-Elect

    Businesses must accept eNaira as a form of payment – CBN

    List of companies licensed by CBN as mobile money operators

    Inclusion of Chimaroke Nnamani’s name in our list not a mistake – APC campaign

    Chimaroke Nnamani quits PDP after losing to Labour Party

    INEC disowns online voter registration website

    BREAKING: INEC suspends collation of Gov. Election results in Abia and Enugu states

    Gunmen invade Imo community, destroy properties

    Imo state House of Assembly election results announced by INEC

    NNPP wins Kano Gov. Election, curfew declared by government

    NNPP wins Kano Gov. Election, curfew declared by government

    List of #ENDSARS panel’s 32 recommendations and Lagos State Govt’s response

    Gov. Election: INEC declares Sanwo-Olu winner in Lagos State

    Chimaroke Nnamani loses Enugu East Senate Post to Labour Party

    Chimaroke Nnamani loses Enugu East Senate Post to Labour Party

    More than 70 feared dead as boat capsizes in Anambra

    Anambra state House of Assembly election results

    • Nigeria
    • Africa
    • World
  • Economy
    • All
    • Budgets
    • Economic Data
    • Policies
    Russia Economy contracts by 2.1% in 2022, far below western predictions

    Russia Economy contracts by 2.1% in 2022, far below western predictions

    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    FG explains why Nigeria’s total debt will rise to N77 trillion by the end of May 2023

    U.S unemployment fell to a five-decade low

    U.S unemployment fell to a five-decade low

    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    Nigeria’s total debt rise above N44 trillion – DMO

    FG approves 39 licences for fish importation

    Q3 2022: Nigeria’s total trade stood at N11.6 trn, total export falls nearly 20% QoQ

    Update: Central Bank of Nigeria instructs banks to close accounts related to Crypto

    JUST IN: CBN limits weekly cash withdrawal to N100k

    Law to legalize crypto as a payment method passed in Brazil

    Law to legalize crypto as a payment method passed in Brazil

    Will Nigerians in diaspora be committing an offence if they make a campaign donation?

    Rivers and Oyo State to join others in establishing small claims courts

    Non-oil sector contributes 93.67% to Nigeria’s GDP in Q2 2022

    Nigeria’s GDP growth slows to 2.25% in Q3 2022, oil sector contribution declines further

    • Policies
    • Budgets
    • Economic Data
  • Markets
    • All
    • Commodities
    • Cryptocurrencies
    • Forex
    • Rates & Bonds
    • Stocks/Equities
    Lasaco Assurance Plc suffers maximum possible loss on NSE as suspension is lifted

    The NGX-ASI lost by 0.09%, as STANBIC loses 8.52%

    Lasaco Assurance Plc suffers maximum possible loss on NSE as suspension is lifted

    The NGX-ASI Lost By 1.04%, as banking sector drops 1%

    Lasaco Assurance Plc suffers maximum possible loss on NSE as suspension is lifted

    The Local Bourse declined by 0.42%, as FLOURMILL loses 5.92%

    Again DMO offers N360 billion FGN bond for February

    The DMO auctions 4 FGN Bonds worth N360bn in March

    Guaranty Trust Holding Company profit dips to N77.56 billion in H1 2022

    The NGX-ASI Declined by 0.12%, as GTCO loses 3.08%

    Why Bitcoin fell below $20,000 for the first time in nearly 2 months

    Bitcoin rises over 18% as cryptos surge in renewed hope

    Weekly Market Report: NGX rose 0.48% as Conoil shareholders lose 18.89%

    Weekly Market Report: NGX rose 0.48% as Conoil shareholders lose 18.89%

    Lasaco Assurance Plc suffers maximum possible loss on NSE as suspension is lifted

    The NGX-ASI Gained by 0.05%, as Conoil loses another 9.95%

    Why Bitcoin fell below $20,000 for the first time in nearly 2 months

    Why Bitcoin fell below $20,000 for the first time in nearly 2 months

    • Stocks/Equities
    • Forex
    • Rates & Bonds
    • Commodities
    • Cryptocurrencies
  • Business
    • All
    • Agriculture
    • Companies
    • Industry
    • Technology
    Credit Suisse shares plunged on Monday after acquisition by rival UBS

    Credit Suisse shares plunged on Monday after acquisition by rival UBS

    Approval given for acquisition of International Energy Insurance Plc

    UBS agrees to buy troubled 167 years old rival, Credit Suisse

    Unilever Nigeria Plc Board of Directors approve Tea Business Separation Process

    Unilever Nigeria makes changes to its business model

    CAP Plc Shareholders approve N2.10kobo dividend per ordinary share for 2020 financial year

    Stanbic IBTC announced N2.00 final dividend for 2022 FY

    CEO of Ecobank Group to retire, new CEO announced

    Ecobank Transnational Incorporated announces delay in publication of 2022 result

    President Biden approves major Oil and Gas drilling project in Alaska

    President Biden approves major Oil and Gas drilling project in Alaska

    BUA Cement Plc announces N2.80 dividend for 2022 Financial Year

    BUA Cement Plc announces N2.80 dividend for 2022 Financial Year

    Obajana Cement Plant has commenced full operation – Dangote Cement Plc

    Dangote Cement Plc establishes new share buy-back programme

    MTN Nigeria proposes N23bn Commercial Paper

    MTN Nigeria completes allotment of incentive shares to Shareholders

    • Companies
    • Industry
    • Technology
  • Sports
    • Football
  • Opinion & Analysis
    • All
    • Columnists
    • Editorials
    • Investogist Business Saturday
    • Op-ed
    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    APC won Abua-Odual and Ahoada East LGAs of Rivers State as announced – INEC’s IRev

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    North-West, South-West lead as INEC registers 96.2 million, Rivers overtakes Katsina

    ELECTION: How to check your polling unit, code online

    4 things to consider before buying a laptop

    4 things to consider before buying a laptop

    How to move to Canada by starting a business – Part 1

    How to move to Canada by starting a business – Part 2

    How to move to Canada by starting a business – Part 1

    How to move to Canada by starting a business – Part 1

    Building a Successful Business Organization: Lessons from the Bible

    Building a Successful Business Organization: Lessons from the Bible

    2023 Bible Lessons on Setting your Financial/Investment Goals

    2023 Bible Lessons on Setting your Financial/Investment Goals

    Fact check: Is the Investment Peter Obi made for Anambra State worth next to nothing?

    Fact check: Is the Investment Peter Obi made for Anambra State worth next to nothing?

    • Editorials
    • Book Club
    • Investogist Business Saturday
    • Op-ed
  • Financial Education
  • Vacancies
No Result
View All Result
Investogist
No Result
View All Result
Home Business

The Rise Fund to invest $200 million in Airtel Africa’s mobile money business

Thursday, 18 March 2021, 2:35 pm
in Business, Companies
0
The Rise Fund to invest $200 million in Airtel Africa’s mobile money business
Share Share Share Share Send as Email

Airtel Africa Plc on Thursday announced an agreement with The Rise Fund, the global impact investing platform of leading alternative investment firm TPG.

Under the agreement, The Rise Fund will invest $200 million in Airtel Mobile Commerce BV (AMC BV) a wholly owned subsidiary of Airtel Africa plc.

According to Airtel, The Rise Fund will hold a minority stake in AMC BV upon completion of the Transaction, with Airtel Africa continuing to hold the remaining majority stake.

The Transaction is the latest step in the Group’s pursuit of strategic asset monetization and investment opportunities. Airtel said the Group is in discussions with other potential investors in relation to possible further minority investments into Airtel Money, up to a total of 25% of the issued share capital of AMC BV.

  • Read: Seplat: Refinancing of Reserve-Based Lending Facility
  • Visit Investogist’s homepage for more articles

AMC BV is currently the holding company for several of Airtel Africa’s mobile money operations; and is now intended to own and operate the mobile money businesses across all of Airtel Africa’s fourteen operating countries, according to the press release by Airtel.

Airtel Africa’s mobile money business is valued at $2.65 billion on a cash and debt free basis under the transaction.

The $200 million transaction will close in two stages according to Airtel. $150 million will be invested at first close, once the transfer of sufficient mobile money operations and contracts into AMC BV has been completed, with $50 million to be invested at second close upon further transfers.

“In line with our vision of enhancing financial inclusion, Airtel Africa offers a unique digital mobile financial services platform under the Airtel Money brand,” said Raghunath Mandava, CEO of Airtel Africa, while commenting on the transaction.

He added that “with today’s announcement we are pleased to welcome The Rise Fund as an investor in our mobile money business and as a partner to help us realise the full potential from the substantial opportunity to bank the unbanked across Africa.”

Yemi Lalude, Partner at TPG who leads Africa investing for The Rise Fund, said “Financial inclusion is a global issue that is most acute in Africa. Through Airtel Money, Airtel Africa has built a unique platform that is closing the gap between traditional financial institutions and the millions of unbanked Africans across the 14 countries where Airtel Africa operates.

“With this investment in Airtel Africa’s mobile money operations, we are excited to expand The Rise Fund’s global fintech portfolio and continue to deepen our focus on improving financial inclusion in Africa and around the world,” he added.

Ifunanya Ikueze
Ifunanya Ikueze

Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.

Related Posts:

  • Airtel Money customers to receive MoneyGram transfer direct into their mobile money wallets
    Airtel Money customers to receive MoneyGram transfer direct…
  • Airtel Africa announces First Closing of Airtel Money Minority Investment by QIA
    Airtel Africa announces First Closing of Airtel Money…
  • List of companies licensed by CBN as mobile money operators
    List of companies licensed by CBN as mobile money operators
  • Airtel Money customers to receive international money transfers directly to their wallets as the company partners with Standard Chartered Bank
    Airtel Money customers to receive international money…
Previous Post

NASRDA to Launch Edusat-2 in June/July

Next Post

Market Turns Positive…as the Banking Index Jumps 4.4%

Next Post
FY 2020: Zenith Bank Plc rakes in N230.6 billion profit after tax

Market Turns Positive…as the Banking Index Jumps 4.4%

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Plugin Install : Widget Tab Post needs JNews - View Counter to be installed
  • Trending
  • Comments
  • Latest
More than 70 feared dead as boat capsizes in Anambra

Anambra state House of Assembly election results

Gunmen invade Imo community, destroy properties

Imo state House of Assembly election results announced by INEC

MTN Nigeria to pay over N200 billion final dividend for 2022

List of Dividends announced in 2023, qualification and payment dates

Zenith Bank’s Board of Directors approve payment of final dividend for 2022

Zenith Bank’s Board of Directors approve payment of final dividend for 2022

Gov. Elections: PDP’s Sim Fubara declared Rivers State’s Governor-Elect

Gov. Elections: PDP’s Sim Fubara declared Rivers State’s Governor-Elect

Credit Suisse shares plunged on Monday after acquisition by rival UBS

Credit Suisse shares plunged on Monday after acquisition by rival UBS

Lasaco Assurance Plc suffers maximum possible loss on NSE as suspension is lifted

The NGX-ASI lost by 0.09%, as STANBIC loses 8.52%

Businesses must accept eNaira as a form of payment – CBN

List of companies licensed by CBN as mobile money operators

Investogist
info@investogist.com

Follow us

Categories

  • Africa
  • Agriculture
  • Arts & Culture
  • Budgets
  • Business
  • Columnists
  • Commodities
  • Companies
  • Cryptocurrencies
  • Economic Data
  • Economy
  • Editorials
  • Financial Education
  • Football
  • Forex
  • Industry
  • Investogist Business Saturday
  • Job Opportunities
  • Markets
  • Nature
  • News
  • Nigeria
  • Op-ed
  • Opinion & Analysis
  • Places & People
  • Policies
  • Rates & Bonds
  • Sports
  • Stocks/Equities
  • Technology
  • Travel & Tours
  • Vacancies
  • World

Quick Links

  • News
  • Economy
  • Markets
  • Business
  • Opinion & Analysis
  • Travel & Tours

Newsletter

Copyright © 2023 investogist.com, All Rights Reserved

  • About Us
  • Terms & Conditions
  • Privacy Policy
  • Contact Us
No Result
View All Result
  • Home
  • News
    • Nigeria
    • Africa
    • World
  • Economy
    • Policies
    • Budgets
    • Economic Data
  • Markets
    • Stocks/Equities
    • Forex
    • Rates & Bonds
    • Commodities
    • Cryptocurrencies
  • Business
    • Companies
    • Industry
    • Technology
  • Sports
    • Football
  • Opinion & Analysis
    • Editorials
    • Book Club
    • Investogist Business Saturday
    • Op-ed
  • Financial Education
  • Vacancies

Copyright © 2023 investogist.com, All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist