Friday, 24 March, 2023

Airtel Africa’s mobile money business gets Mastercard backing

<p>Airtel Africa said that Mastercard will invest ₹733 cr in its wholly-owned subsidiary Airtel Mobile Commerce BV to own a minority stake in the subsidiary. &nbsp;Media reports said that Mastercard will have around 3.75 % stake in the firm which is, at present, the holding company for several of Airtel Africa&rsquo;s mobile money operations. The transaction will help to reduce Group&#39;s debt, invest in network and sales infrastructure.</p>