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The Rise Fund to Invest $200m in Airtel Africa’s Mobile Money Business

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Airtel Africa has announced the signing of an agreement under which The Rise Fund, the global impact investing platform of leading alternative investment firm TPG, will invest $200 million in Airtel Mobile Commerce BV, a wholly owned subsidiary of Airtel Africa plc.

The Rise Fund to Invest $200m in Airtel Africa’s Mobile Money Business

AMC BV is currently the holding company for several of Airtel Africa’s mobile money operations; and is now intended to own and operate the mobile money businesses across all of Airtel Africa’s fourteen operating countries.

The Transaction according to a statement from Telecom giant, values Airtel Africa’s mobile money business at $2.65 billion on a cash and debt free basis.

The Rise Fund will hold a minority stake in AMC BV upon completion of the Transaction, with Airtel Africa continuing to hold the remaining majority stake.

The Transaction is subject to customary closing conditions including necessary regulatory filings and approvals, as necessary, and the inclusion of specified mobile money business assets and contracts into AMC BV.

The Transaction is the latest step in the Group’s pursuit of strategic asset monetization and investment opportunities, and it is the aim of Airtel Africa to explore the potential listing of the mobile money business within four years.

The Group is in discussions with other potential investors in relation to possible further minority investments into Airtel Money, up to a total of 25% of the issued share capital of AMC BV.

There can be no certainty that a transaction will be concluded or as to the final terms of any transactions.

The proceeds from the Transaction will be used to reduce Group debt and invest in network and sales infrastructure in the respective operating countries.

Airtel Africa mobile money services Operating under the Airtel Money brand, Airtel Africa’s mobile money services is a leading digital mobile financial services platform catering to a large addressable market in Africa (characterised by limited access to formal financial institutions with limited banking infrastructure) and includes mobile wallet deposit and withdrawals, merchant and commercial payments, benefits transfers, loans and savings, virtual credit card and international money transfers.

Mobile money services, the statement said, “are available across the Group’s 14 countries of operation, however in Nigeria the Group offers Airtel Money services through a partnership with a local bank and has applied for its own mobile banking licence. It is the intention that all mobile money operations will be owned and operated by AMC BV.

“In our most recent reported results for Q3, the mobile money service segment (corresponding to all the businesses that are intended to be transferred to AMC BV) delivered a strong operational performance:

  • Generated revenue of $110 million ($440 million annualised), and underlying EBITDA of $54 million ($216 million annualised) at a margin of 48.7%.
  • Year on year revenue growth for the quarter was 41.1% in constant currency, largely driven by 29% growth in the customer base to 21.5 million, and 9.7% ARPU growth Growth in transaction value was 53.0% to $12.8 billion ($51 billion annualised).

“Our mobile money business benefits from strong network presence with our core telecom business through the extensive distribution platform of kiosks and mini shops as well as dedicated Airtel Money branches supplementing our extensive agent network, to facilitate customers’ assured wallet and cash.

“We have a clear strategy to continue to drive sustainable long-term growth in Airtel Money with a focus on assured float availability, distribution expansion and increased usage cases for our customers.

“In this year alone we have added partnerships with Mastercard, Samsung, Asante, Standard Chartered Bank, MoneyGram, Mukuru and WorldRemit to expand both the range and depth of the Airtel Money offerings and to further drive customer growth and penetration.

“The profits before tax in the full year ending 31 March 2020 and the value of gross assets as of that date, attributable to the mobile money businesses were $143.4 million and $463.2 million, respectively.”

Key elements of the Transaction include:

  • Agreement values Airtel Africa’s mobile money business at $2.65 billion on a cash and debt free basis.
  • AMC BV, a wholly owned subsidiary of Airtel Africa, is currently the holding company for several of Airtel Africa’s mobile money operations; and is now intended to own and operate the mobile money businesses across all of Airtel Africa’s fourteen operating countries once the inclusion of the remaining mobile money operations under AMC BV is completed.
  • A newly incorporated investment vehicle of The Rise Fund will invest $200 million through a secondary purchase of shares in AMC BV from Airtel Africa. The transaction will close in two stages. $150 million will be invested at first close, once the transfer of sufficient mobile money operations and contracts into AMC BV has been completed, with $50 million to be invested at second close upon further transfers.
  • Airtel Africa aims to explore the potential listing of the mobile money business within four years. Under the terms of the Transaction, and in very limited circumstances (in the event that there is no Initial Public Offering of shares in AMC BV within four years of first close, or in the event of changes of control without TPG’s prior approval), TPG would have the option, so as to provide liquidity to them, to sell its shares in AMC BV to Airtel Africa or its affiliates at fair market value (determined by a mutually agreed merchant bank using an agreed internationally accepted valuation methodology). The option is subject to a minimum price equal to the consideration paid by The Rise Fund for its investment (less the value of all distributions and any proceeds of sale of its shares, and with no time value of money or minimum return built in) and a maximum number of shares in AMC BV such that the consideration does not exceed $400 million.

The Transaction is expected to reach first close over the next three to four months.

The Rise Fund will be entitled to appoint a director to the board of AMC BV and to certain customary information and minority protection rights.

Raghunath Mandava, CEO of Airtel Africa, commented: “In line with our vision of enhancing financial inclusion, Airtel Africa offers a unique digital mobile financial services platform under the Airtel Money brand. In most of our markets there is limited access to traditional financial institutions, and little banking infrastructure, with less than half of the population having a bank account across sub-Saharan Africa. Our markets therefore afford substantial market potential for mobile money services to meet the needs of the tens of millions of customers in Africa who have little or no access to banking and financial services, and this demand is driving growth.

“With today’s announcement we are pleased to welcome The Rise Fund as an investor in our mobile money business and as a partner to help us realise the full potential from the substantial opportunity to bank the unbanked across Africa.”

Yemi Lalude, Partner at TPG who leads Africa investing for The Rise Fund, added: “Financial inclusion is a global issue that is most acute in Africa. Through Airtel Money, Airtel Africa has built a unique platform that is closing the gap between traditional financial institutions and the millions of unbanked Africans across the 14 countries where Airtel Africa operates. We look forward to working with Airtel Africa to enhance their mobile money services, broaden its use cases, and grow into new markets. With this investment in Airtel Africa’s mobile money operations, we are excited to expand The Rise Fund’s global fintech portfolio and continue to deepen our focus on improving financial inclusion in Africa and around the world.”

 


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Telecom

UniCloud Africa, Open Access Data Centres Announce Strategic Partnership to Strengthen Digital Sovereignty Across Africa

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UniCloud Africa (UCA), the premier pan-African sovereign cloud platform, and Open Access Data Centres (OADC), one of the leading data centre companies in Africa, and Africa’s fastest-growing data centre company, are pleased to announce a strategic partnership to accelerate Africa’s digital transformation and independence.

Under this partnership, UniCloud Africa will host its enterprise-grade sovereign cloud and Artificial Intelligence (AI) infrastructure within OADC’s world-class, carrier-neutral facilities in Nigeria, the Democratic Republic of Congo and South Africa. This collaboration establishes a robust, localised foundation for governments and enterprises to modernise their operations while ensuring absolute data residency and regulatory compliance.

Advancing the “One Cloud, One Africa” Vision

The partnership aligns with UniCloud Africa’s “One Cloud, One Africa” strategy, which seeks to eliminate the high-latency and compliance risks associated with offshore cloud providers. By utilizing OADC’s Tier-III certified infrastructure, UniCloud Africa provides a high-performance environment for mission-critical workloads, supported by a contractual Tier-III certified uptime SLA.

“Our mission is to provide the definitive foundation for Africa’s digital and economic independence,” said Dr. Krish Ranganath, CEO of UniCloud Africa. “By hosting our sovereign infrastructure within OADC’s world-class facilities, we are ensuring that African data remains on African soil. This partnership empowers our clients with low-latency access, local currency billing, and the security of ISO-certified, in-country data management that is tailor-made for the continent’s unique requirements.”

A Multi-Market Digital Backbone

OADC’s extensive footprint provides UniCloud Africa with the scale needed to serve key economic hubs:

  • Nigeria: Leveraging OADC Lagos’s campus to support the country’s booming fintech and enterprise sectors
  • DRC: Providing much-needed local cloud capacity in Kinshasa to drive the nation’s digital acceleration
  • South Africa: Utilising OADC’s expanded national footprint and distributed scale to deliver resilient, geographically separated primary and disaster recovery solutions

“We firmly believe that fully localised cloud infrastructure is critical for economic growth and Africa’s digital future,” added Dr Ayotunde Coker, CEO of OADC. “OADC is committed to providing the essential building blocks for a truly unified African digital ecosystem. Partnering with UniCloud Africa allows us to support a platform that is driving the next wave of innovation, from AI acceleration to cost-predictability.”

Empowering the Next Wave of Innovation

Beyond standard infrastructure, the partnership will support the deployment of UniCloud’s GPU-as-a-Service (GPUaaS), enabling local organisations to harness the power of AI, Machine Learning, and Big Data at scale. With zero data egress fees and billing in local currencies, the collaboration removes the financial barriers often posed by global cloud giants.


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ipNX, Industry Leaders Push for Unified Action on Telecom Growth, Security

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L-r: Tunji Alabi, CEO, Infratel; Oluseyi Lala, Divisional CEO, ipNX Business; Daniel Ugwejeh, Head of Sales, Internet Solutions Nigeria; Gbemisola Osunrinde, Panel Moderator and CEO, Smartcomply; Innocent Obolo, Senior Management Consultant, Ethnos Cyber and Jason Ikegwu, Partner, Philips Consulting at the Nigerian Telecoms Forum which held at Four Point by Sheraton recently.
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ipNX, has once again emphasized the need for stronger collaboration among telecommunications operators, enhanced government support, and critical infrastructure reforms to drive sustainable growth in Nigeria’s telecom sector.

This call was made by ipNX’s Divisional CEO, IpNX Business, Oluseyi Lala, at the recently concluded Nigeria Telecoms Forum held on Thursday, April 9, 2026, at the Four Points by Sheraton Hotel in Victoria Island, Lagos. The forum brought together senior telecom executives, infrastructure providers, operators, investors, telco associations, and industry professionals.

Speaking during a panel session titled “Securing the Digital Backbone: Cyber Resilience and Data Protection in the Age of 5G and Cloud,” Lala highlighted the growing importance of cybersecurity in Nigeria’s rapidly evolving telecom landscape. As the industry embraces advanced technologies such as 5G and cloud computing, he stressed that safeguarding digital infrastructure must remain a top priority.

He emphasized that cybersecurity is a shared responsibility across the ecosystem, warning against the common assumption that vendors or infrastructure providers have already guaranteed system-wide protection. According to him, this mindset creates vulnerabilities, as effective security depends on coordinated vigilance and accountability from all stakeholders.

“Cybersecurity is no longer optional, it is fundamental to the sustainability of our industry. A unified and coordinated approach to threat detection and response will significantly enhance our ability to protect critical telecom infrastructure,” Lala said.

He further noted that collaboration among operators, regulators, and security agencies is essential to effectively mitigate risks and ensure service continuity. Lala also commended the Federal Government, particularly through the National Information Technology Development Agency (NITDA), for establishing a committee dedicated to responding to cyber threats within the sector.

Beyond cybersecurity, discussions at the forum highlighted a pressing structural challenge: power supply. Industry stakeholders called for a state of emergency on power, describing it as a critical enabler for telecom growth. Reliable electricity remains fundamental to network expansion, service quality, and cost efficiency, with operators continuing to bear the heavy burden of self-generation.

The forum also explored the financial realities facing telecom operators, particularly in light of recent currency devaluation. Participants stressed the need for companies to adopt more robust and transparent business models to attract long-term capital. The volatility of the naira has made multilateral institutions, including organizations such as the Africa Finance Corporation (AFC), more cautious about extending long-term financing to the sector.

To address this, stakeholders pointed to Environmental, Social, and Governance (ESG) strategies as a critical lever. Embracing ESG principles was identified as a “winning play” for telecom companies, not only enhancing brand credibility but also improving access to green funds and attracting foreign investment increasingly tied to sustainability benchmarks.

Jamiu Ijaodola, convener of the Nigeria Telecoms Forum, underscored the importance of collaboration in tackling these multifaceted challenges.

“The telecom sector is at a pivotal point where collaboration is no longer a choice but a necessity. Forums like this provide an opportunity for stakeholders to align priorities, share insights, and collectively build a more secure, resilient, and future-ready digital ecosystem for Nigeria,” he said.

In addition, discussions reinforced the need for an enabling regulatory environment that supports infrastructure investment, innovation, and long-term sector stability, in alignment with Nigeria’s broader digital transformation goals.

ipNX reaffirmed its commitment to driving industry collaboration and advocating for policies that support sustainable growth. With stronger partnerships between operators, investors, and government institutions—and urgent attention to power, capital access, and cybersecurity, Nigeria’s telecom sector is well-positioned to achieve greater resilience, improved service delivery, and expanded digital access nationwide.


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UK Probes Telegram Over Child Safety Concerns

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United Kingdom’s communications regulator, Ofcom, has opened an investigation into Telegram over concerns relating to the spread of child sexual abuse material on the platform.

Ofcom Probes Telegram Over Child Safety Concerns

Ofcom said it had reviewed available evidence and would assess whether Telegram has failed, or is failing, to meet its legal obligations on illegal content under the Online Safety Act 2023.

The regulator noted that the law requires online platforms to minimise risks associated with illegal content and take swift action when such material is identified. It added that companies must demonstrate compliance with these responsibilities or face enforcement measures.

The investigation comes amid growing scrutiny of online platforms operating in the UK, as authorities push for stronger protections for children in digital spaces.

In response, Telegram denied the allegations, stating it “categorically” rejects the claims. The company said it has, since 2018, “virtually eliminated” the public spread of such material through the use of detection algorithms.

Telegram also expressed concern over the probe, suggesting it could be part of broader pressure on platforms that prioritise privacy and freedom of expression.

Ofcom has also launched separate investigations into Teen Chat and Chat Avenue, saying it is not satisfied that both platforms are doing enough to protect children from grooming risks.

Ms Suzanne Cater, Ofcom’s Director of Enforcement, said firms must strengthen safeguards or face serious consequences under the law.

“These firms must do more to protect children, or face serious consequences under the Online Safety Act,” she said.

The probe comes as the government of Keir Starmer intensifies efforts to enforce stricter online safety standards, particularly for younger users.

Nigeria CommunicationsWeek reports that Telegram has faced similar regulatory action in other jurisdictions. In February, Australia’s online safety regulator fined the company over delays in responding to inquiries regarding measures against child abuse and extremist content.

The Online Safety Act 2023 is widely regarded as one of the most stringent internet safety frameworks globally, placing direct responsibility on digital platforms to address illegal and harmful content or risk sanctions.


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