Sunil Mittal Stakes $2.9bn on Airtel Africa, Eyes 79% Ownership
Bharti Airtel is set to boost its holding in Airtel Africa from 62.7% to about 79% through a $2.9 billion share swap. Founder Sunil Mittal describes Africa as a “once-in-a-lifetime opportunity” for digital growth. The move reflects growing investor confidence in Africa’s mobile connectivity, digital banking, mobile money services and smartphone adoption. Airtel Africa now operates in 14 countries and competes in markets where millions remain unbanked. Positioned ahead of an expected mobile money IPO, the deal could accelerate telecom investments, expand mobile banking services and deepen financial inclusion across Nigeria and the continent.
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