Chimera invests in mobile money business

RNS Number : 8067V

Airtel Africa PLC

16 December 2021

 

Airtel Africa plc

('Airtel Africa', or the 'Group')

Chimera Investment LLC invests $50m in Airtel Africa's mobile money business

London and Lagos, 16 December 2021: Further to previous announcements, most recently on 16 November 2021, Airtel Africa, a leading provider of telecommunications and mobile money services, with a presence in 14 countries across Africa, today announces the introduction of Chimera Investment LLC as an additional investor in Airtel Mobile Commerce BV ('AMC BV'), through a $50m secondary purchase of shares from a subsidiary of Airtel Africa plc (the 'Transaction') . AMC BV is the holding company for several of Airtel Africa's mobile money operations; and ultimately is intended to own and operate the mobile money businesses across all of Airtel Africa's fourteen operating countries.

Chimera Investment LLC, through its subsidiary Chimetech Holding Ltd., now holds a minority stake in AMC BV alongside the other minority investors, with Airtel Africa continuing to hold the majority stake.

The Transaction is a continuation of   the Group's pursuit of strategic asset monetisation and investment opportunities, and i t is the aim of Airtel Africa to explore the potential listing of the mobile money business within four years.

The proceeds from the Transaction will be used to reduce Group debt and invest in network and sales infrastructure in the respective operating countries.

The profits before tax in the full year ended 31 March 2021 and the value of gross assets as of that date, attributable to Airtel Africa's mobile money businesses were $185m and $668m, respectively.

-ENDS-

Enquiries

Airtel Africa - Investor Relations Pier Falcione Morten Singleton [e-mail]	[phone] [phone] [phone]
Hudson Sandler Nick Lyon Bertie Berger [e-mail]	[phone]

About Airtel Africa

Airtel Africa is a leading provider of telecommunications and mobile money services, with a presence in 14 countries in Africa, primarily in East Africa and Central and West Africa.

Airtel Africa offers an integrated suite of telecommunications solutions to its subscribers, including mobile voice and data services as well as mobile money services, both nationally and internationally.

The Group aims to continue providing a simple and intuitive customer experience through streamlined customer journeys.

For more information visit www.airtel.africa

About Chimera Investment LLC

Established in 2007, Chimera Investment LLC is an Abu Dhabi-based private investment firm managing a diversified portfolio of listed and unlisted equities on both local and regional markets. The firm seeks value-creation opportunities where it can invest proprietary capital and keep in-line with its investment philosophy and key guiding principles.

Chimera Investment LLC is part of Abu Dhabi's Royal Group, a diversified conglomerate of companies comprising over 60 entities and employing 20,000 employees. The Group is active in a breadth of industries including real estate, construction, fast-moving consumer goods, food and beverage, hospitality, aviation, healthcare and general investments.

For more information visit www.chimerainvestment.com

 

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