Mastercard to invest $100 million in Airtel Africa’s mobile money unit

Business

Mastercard Inc will invest $100 million in Airtel Africa’s mobile money operations valuing the business at $2.65 billion, 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% stake in the unit, the company said.