Airtel Money lists on London Stock Exchange at £5.3bn valuation

Airtel Money, the digital financial services arm of Airtel Africa, has begun trading on the London Stock Exchange’s Main Market at a valuation of approximately £5.3bn.

Conditional trading in the company’s ordinary shares commenced under the ticker symbol “AMC”, with the offer priced at £1.96 per share.

The listing marks a major milestone for the fintech company, which serves approximately 53 million monthly active users across 13 African countries through a network of more than 2.3 million local agents.

The offer involved the sale of existing shareholders’ stakes, meaning Airtel Money will not issue new shares or raise fresh capital from the transaction.

The company provides digital financial services, including local and international money transfers, payments, savings, investments, credit, insurance and virtual debit cards. It also offers payment and collection services to businesses and institutions.

Launched in 2011 as Airtel Africa’s mobile money business, Airtel Money has expanded its services to support individuals, merchants and businesses across its markets.

In Nigeria, the company operates through SmartCash Payment Service Bank, Airtel’s licensed subsidiary under the country’s Payment Service Bank regulatory framework.

Speaking on the listing, Airtel Money Chief Executive Officer, Ian Ferrao, said the development marked the beginning of a new phase in the company’s growth.

He said the company would focus on expanding its digital financial services, deepening financial inclusion and supporting Africa’s transition to a more connected digital economy.

Ferrao added that the company aimed to deliver sustainable growth and long-term value for customers, partners, communities, governments and shareholders.

The United Kingdom’s Business Secretary, Jonathan Reynolds, described the listing as a vote of confidence in the country’s business environment and its position as a global financial centre.

He said London continued to attract African-focused businesses seeking access to international investors and capital markets.

Mark Smithson, the UK’s Business, Innovation, Science and Technology Country Director in Nigeria, said the listing demonstrated how African businesses could access international capital while maintaining their presence in the markets they serve.

He added that the UK-Nigeria Strategic Partnership was helping connect businesses with investment, expertise and international opportunities to support growth and job creation.