MasterCard and Airtel Africa have entered into an agreement today under which MasterCard will invest $ 100 million.
Mastercard And Airtel
Airtel Africa has announced that MasterCard will invest $ 100 million (approximately Rs 733) in its subsidiary Airtel Mobile Commerce BV (AMC-BV). After the deal is completed, MasterCard will hold a small stake in AMC-BV and Airtel Africa will hold majority stake in it.
A source associated with the deal said that MasterCard will hold 3.75 percent stake in the company. AMC-BV Airtel Africa takes care of mobile money operations and it looks after the business of the company present in 14 countries of Airtel Africa. The main objective of this investment is to compensate for the group debt.
Issuing a statement regarding this, the company said that MasterCard Airtel, a payment industry major in telecommunications and leading providers in mobile money service in 14 countries in Africa, will invest $ 100 million in mobile commerce BV. With this latest, the value of Airtel Africa Mobile Money Business will be $ 2.65.
The company will invest in two stages
MasterCard will invest in two stages in AMC-BV, with $ 75 million in the first stage after all the paperwork and contracts are done. After this, the investment of $ 25 million will be done in the second stage.
According to Airtel, along with investment, Airtel and MasterCard have also increased their commercial agreement. Along with this, both have signed an agreement with the new framework in which card approval, payment gateway, payment processing, merchant acceptance etc. have been kept on top.
Airtel is planning to sell 1424 towers
A few days ago, Bharti Airtel had informed that Airtel Africa will sell its 1,424 towers located in Madagascar and Malawi to Helios for $ 1190 million. Helios and Airtel have also reached an agreement for the tower properties in Chad and Gabon, but no further information has been received about this.
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