Bharti Airtel has unveiled plans to consolidate its stake in Airtel Africa as part of a broader strategy to position itself ahead of a planned mobile-money initial public offering (IPO).
- +Bharti Airtel expands Africa push with $2.9 billion stake consolidation plan
The development was disclosed by Bharti Airtel Ltd.
The development was disclosed by Bharti Airtel Ltd. founder Sunil Bharti Mittal, who said the company is targeting up to 90% ownership of its African unit through a $2.9 billion share swap, according to Bloomberg.
The move comes as Airtel Africa continues to expand its footprint across 14 countries, with rising demand for mobile connectivity and digital financial services driving earnings growth across sub-Saharan Africa.
Mittal said the company sees significant long-term value in increasing its stake in the African business, describing the region as a key growth frontier for the group.
Mittal also noted that the consolidation is expected to strengthen the group’s positioning ahead of the planned IPO of Airtel Africa’s mobile-money business, which is being closely watched by global investors.
Airtel Africa has evolved into one of the continent’s leading telecommunications and fintech players, benefiting from rapid adoption of mobile money services across underserved markets.
Investor sentiment around the deal has been broadly positive, with analysts noting that increased ownership typically signals confidence in long-term earnings visibility and sector growth.
Meanwhile, Airtel Africa reported a 37% jump in adjusted EBITDA to $3.2 billion for the year ended March 31, while its parent company posted a quarterly profit decline due to regulatory-related charges, highlighting contrasting performance dynamics across its global operations.
Earlier reports indicated that Airtel Africa had already appointed Citigroup Inc. as lead adviser for the planned IPO of Airtel Money.
