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(Bloomberg) — Airtel Africa Plc picked London as the primary listing location for its mobile-money business and expects to start trading there this year.
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An initial public offering will unlock value in the financial-services unit, which previous Bloomberg reporting put at more than $10 billion.
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“We confirm London as our preferred listing venue for Airtel Money in 2026,” the company said in a statement on Thursday. This “will provide access to a broad international investor base and support our ambition to unlock the long-term value of one of Africa’s leading fintech platforms.”
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The timing, valuation and final structure of the IPO remain subject to market conditions and regulatory approvals. The listing would also provide one of the clearest market tests yet for the valuation of African fintech and mobile-money assets at scale.
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Africa is home to the fastest-growing and youngest population in the world, and has been a breeding ground for fintech businesses that include startups such as Moniepoint Inc. and OPay Holding Ltd. OPay is preparing for a possible US IPO, though it hasn’t publicly filed documents or confirmed a listing timetable.
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Airtel’s decision is a boost for the London Stock Exchange, which has struggled to attract new listings while facing a spree of takeovers that’s shrinking the number of companies traded there. IPOs are a point of focus for the bourse.
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Airtel Africa first-quarter revenue climbed 31% to $1.85 billion, while adjusted earnings before interest, taxes, depreciation and amortization jumped 37% to $928 million.
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The company said higher energy costs arising from the ongoing conflict in the Middle East are expected to increase inflationary pressures and weigh on Ebitda margins in the near term. It reported Ebitda margins of 50.1% in the latest quarter, up 206 basis points and reflecting “the continued success of our cost efficiency program,” it said.
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Investors have long viewed Airtel Money as a key contributor to Airtel Africa’s sum-of-the-parts value, arguing that the business could get a higher multiple than the parent company’s telecommunications operations because of its faster growth profile and expanding customer base.
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A successful London listing may also reignite investor interest in African equity issuance after a prolonged period of subdued capital-markets activity.
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The transaction would likely rank among the most closely watched African fintech offerings in recent years and could serve as a benchmark for other digital-finance companies considering public market listings.
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(Updates with comment by company from third paragraph.)
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