Airtel Money UAE Dual Listing and Middle East Tie-Ups
The move
Airtel Money is seeking partnerships with fintech companies in the Middle East to support growth in its Africa business. The company, which announced its intention last week to float on the London Stock Exchange, is also open to a potential future dual listing in the UAE.
Chief executive Ian Ferrao said the immediate priority is to “finish the listing process” in London. Airtel Money has not yet discussed a UAE dual listing in detail.
What Airtel Money does
Airtel Money is the mobile money arm of Airtel Africa, operating across 13 African markets. Its mobile-led financial services platform serves 53 million monthly active users.
It operates branches and kiosks across the continent used to pay utility bills, arrange microloans and buy goods. The company is also building services across lending, saving, insurance and wealth technology, areas where it relies on partners.
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The UAE and Airtel Money's growth agenda
Airtel Money said it is open to partnerships or acquisitions involving technology firms in the region that want to enter Africa or have the ability to deploy technology in Africa.
The UAE remains relevant even though London was selected for the planned IPO because of its deep pools of capital. Airtel Money considers the Emirates a hub for Africa from financial, capital and logistics perspectives.
What Airtel Money said
“I would say it's the gateway between Africa and the rest of the world, and we view the UAE as very strategic to the future of our operations,” Ferrao said.
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