An Abu Dhabi based private investment firm and member of Abu Dhabi Royal Group, Chimera Investment LLC, has invested $50 million in Airtel’s mobile money business.
Airtel gained an additional investor in Airtel Mobile Commerce BV (AMC BV) through the $50 million secondary purchase of shares from a subsidiary of Airtel Africa Plc.
Airtel’s Group Company Secretary, Simon O’Hara said that Chimera Investment LLC, through its subsidiary Chimetech Holdings Ltd, now holds a minority stake in AMC BV.
The mobile money business of Airtel Africa appears to be juicy as can be seen in the company’s full-year 2021 report with the subsidiary recording a profit before tax of $185 million, while the value of gross assets as at the close of Airtel’s operating period was $668 million.
Airtel revealed that the transaction is a continuation of the group’s pursuit of strategic asset monetisation and investment opportunities as the company aims to explore the potential listing of the mobile money business within four years.
