Airtel Money has announced plans to list its ordinary shares on the London Stock Exchange as the digital financial services business prepares for its next phase of expansion across Africa.
The company intends to seek admission to the Official List of the UK Financial Conduct Authority and trading on the Main Market of the London Stock Exchange. It has also signed a cornerstone agreement with the International Finance Corporation.
The Brandspur Banking News Desk reports that the proposed offering will involve existing shareholders selling their shares, meaning Airtel Money will not raise new capital through the IPO. Airtel Africa, which currently owns 77.85 per cent of the company, is expected to remain a long term strategic shareholder.
Airtel Money operates across 13 African markets and had approximately 53 million monthly active users as of June 30, 2026. Its platform provides services including cash deposits and withdrawals, peer to peer transfers, international remittances, bill payments, merchant transactions and salary disbursements.
Depending on the market, customers can also access services such as micro loans, savings, insurance, wealth products and Mastercard virtual cards for online purchases.
The business has recorded significant growth since its launch within Airtel Africa in September 2011. Its customer base grew at a compound annual rate of 20 per cent between March 2018 and June 2026, while penetration among Airtel Africa’s telecom subscribers rose from 20 per cent to 41 per cent.
Transaction activity has also expanded sharply. Airtel Money’s total processed value increased at a 33 per cent compound annual growth rate in US dollar terms, reaching $213 billion in the 12 months to June 30, 2026.
That growth has been reflected in its financial performance. Revenue increased at a 32 per cent compound annual growth rate over the period, while EBITDA grew at 40 per cent. Revenue stood at $1.346 billion for the year ended March 31, 2026, with an EBITDA margin of about 50 per cent.
The company said its pre tax cash conversion ratio remained above 90 per cent in each of the last three financial years. Airtel Money also reported no external borrowings, while capital expenditure represented 3 per cent of revenue in the year ended March 31, 2026.
Airtel Africa launched the business as part of its broader telecommunications operations and currently remains its majority shareholder. TPG, Mastercard, the Qatar Investment Authority and Chimetech Holding acquired minority interests in 2021 for a combined $550 million.
Airtel Money CEO Ian Ferrao said the proposed London listing would provide a platform for the company’s next stage of growth, pointing to rising digital transaction volumes across its markets and opportunities to move more Airtel Africa subscribers onto its financial services platform.
The proposed transaction remains subject to regulatory and other conditions, including publication of the relevant offering documents and completion of the IPO process.
