Airtel Money, the mobile money arm of Airtel Africa, is now handling close to USD 200 billion in annual transactions. The company is positioning itself as a new fintech heavyweight on the continent and is eyeing a stock market listing by 2026.
The mobile wallet service has experienced explosive growth, with the total value of transactions on its platform now exceeding USD 193 billion per year. This expansion is driven by a rapidly growing customer base of nearly 50 million users across 14 African countries.
A New Member of Africa’s Top Three
This performance places Airtel Money among Africa’s top three mobile money operators, alongside long-standing leaders M-Pesa (Safaricom) and MTN Mobile Money. It has established itself as a formidable competitor, notably in key markets such as Kenya, where it has quickly gained market share.
The success is attributed to the signing of hundreds of thousands of new agents and the surging adoption of smartphones, which has enabled higher transaction volumes and values, according to the tech publication Tech Cabal.
Originally a secondary activity for the telecom operator, Airtel Money has grown into a full-fledged fintech leader. In the DRC—its third-largest market after Nigeria and Uganda—the Airtel Money customer base increased from 2.6 million in 2022–23 to more than 3.6 million, while Airtel Money revenue in the DRC rose 31% year-on-year in 2023–24, according to Airtel Africa’s annual report reviewed by M&B.
Toward an IPO?
The next major milestone for the company is its planned Initial Public Offering (IPO), scheduled for the first half of 2026. The listing could value Airtel Africa at more than USD 4 billion, making it one of the most significant fintech IPOs ever seen in Africa—provided the company chooses an African stock exchange.
Proceeds from the IPO are expected to support the expansion of Airtel Money’s services, particularly in digital banking and credit, to strengthen its competitive position across the continent.
Elisha IRAGI for M&B