The $100 million investment from global payments giant Mastercard in the mobile money business arm of Airtel Africa announced this week is a sign of the rapid growth and optimism in Africa’s digital payment sector.
The transaction values the subsidiary, Airtel Mobile Commerce, at $2.65 billion. It follows a $200 million investment in the company by TPG’s Rise Fund just two weeks ago. Both TPG and Mastercard now have minority stakes in the company.
More than half of the world’s mobile money services are located in Africa, according to a recent report by GSMA, making it a fertile market for investors. Mobile money services are defined as being accessible to people who do not have formal bank accounts.
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