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).
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.
What the company is saying
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.
- The company said the “ambition for Airtel should be whatever is allowed” to help it boost its stake.
- The planned stake increase will be supported by Airtel Africa’s ongoing buyback programme.
- “It is a once in a lifetime opportunity,” Mittal said, referring to the Africa investment.
- He added that entering Africa 15 years ago was a “visionary move.”
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.
Get up to speed
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.
- The company operates in 14 African countries and is listed on both the London and Lagos stock exchanges.
- It is preparing for a mobile-money IPO that could raise up to $2 billion, valuing the unit at about $10 billion, according to earlier reports.
- The listing timeline was pushed to the second half of the year due to global uncertainties, including geopolitical tensions linked to the Iran conflict.
- Mobile-money transactions in sub-Saharan Africa reached about $1.4 trillion in 2025, representing roughly 66 per cent of global activity.
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.
What you should know
Earlier reports indicated that Airtel Africa had already appointed Citigroup Inc. as lead adviser for the planned IPO of Airtel Money.
- The planned IPO comes amid a broader surge in fintech adoption across Africa, where a young, digitally savvy population is increasingly leveraging mobile platforms for banking and payments.
