Bharti Airtel has announced plans to consolidate its ownership in Airtel Africa as part of a broader strategy to strengthen its position ahead of a planned initial public offering (IPO) of its mobile-money business.
The development was disclosed by Bharti Airtel founder Sunil Bharti Mittal, who said the company is targeting up to 90% ownership of its African subsidiary through a $2.9 billion share swap, according to Bloomberg.
The move reflects growing strategic interest in Airtel Africa, which operates across 14 countries and continues to benefit from rising demand for telecom and digital financial services across sub-Saharan Africa.
What the company is saying
Mittal said the company views Africa as a long-term growth driver and intends to deepen its exposure to the region’s expanding digital economy.
▪ The company said its “ambition for Airtel should be whatever is allowed” in order to increase its stake.
▪ The planned consolidation will be supported by Airtel Africa’s ongoing share buyback programme.
▪ “It is a once in a lifetime opportunity,” Mittal said, referring to the Africa investment.
▪ He added that the group’s entry into Africa 15 years ago was a “visionary move.”
Mittal also noted that the stake increase is aimed at strengthening Airtel’s positioning ahead of the planned IPO of Airtel Africa’s mobile-money arm, a transaction expected to attract significant global investor interest.
Get up to speed
Airtel Africa has grown into one of the continent’s leading telecom and fintech groups, supported by rapid adoption of mobile-money services in underbanked markets.
▪ The company operates in 14 African countries and is listed on both the London and Nigerian stock exchanges.
▪ It is preparing for a mobile-money IPO that could raise up to $2 billion, with the unit potentially valued at around $10 billion.
▪ The listing timeline has been 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, accounting for roughly 66% of global activity.
Investor sentiment has remained broadly positive, with analysts noting that higher parent-company ownership often signals confidence in long-term earnings and growth visibility.
Airtel Africa recently reported a 37% rise in adjusted EBITDA to $3.2 billion for the year ended March 31, although its parent company saw quarterly profit pressures due to regulatory-related charges, highlighting differing performance trends across the group.
What you should know
Earlier reports indicate that Airtel Africa has appointed Citigroup Inc. as lead adviser for the planned Airtel Money IPO.
▪ The IPO comes amid rapid fintech expansion across Africa, driven by increasing mobile adoption and digital financial inclusion.
