Mastercard to invest Sh10.9b in Airtel Africa's mobile money unit

By Reuters

Mastercard Inc will invest Sh10.9b in Airtel Africa’s mobile money operations valuing the business at Sh288.1billion, the London-listed company said on Thursday.

Mastercard will hold a minority stake in Airtel Mobile Commerce, in line with Airtel Africa’s plan to monetise the mobile money business by selling up to a 25 per cent stake in the unit, the company said.