Airtel money - Afrikan Heroes

Why Airtel Africa Divested From Airtel Money

February 9, 2021

Indications emerged that Airtel Africa decided to divest from Airtel Money by selling a minority stake in its mobile financial platform to raise cash which it needed in its expansionary drive across the continent. Airtel Africa has since last year embarked in internally raising funds from existing assets through assets offloading. A source at the company said that the company is actively pursuing the sale of the remaining owned tower sites that sit across several of our operating countries and the group is in discussions with various potential investors in relation to possible minority investments into Airtel Money.

“Discussions are ongoing between the parties and there can be no certainty that a transaction will be concluded or as to the final terms of any transaction,” the source said. Airtel did not disclose the amount it expects to raise. However, its revenues reached $291 million across its markets in 2020.

“Our mobile money customer base reached 21.5 million, up 29 percent over the previous period, with Airtel Money customers now representing 18 percent of our total customers, an increase of 2.5 percentage points,” the multinational said.

“Mobile money average revenue per user (ARPU) was up 5.1 percent to $1.7 (Sh187), driven by the increase in transaction values and a higher contribution from merchant payments, cash out, person-to-person transfer and recharge of mobile services through Airtel Money.”

It could be recalled that Airtel Africa paid N71.6 billion to the Nigerian Communications Commission (NCC) to renew its 900 and 1800 MHZ spectrum licence for the next 10 years.

Chief Executive Officer of Airtel Africa, Raghunath Mandava says that their current license was due to expire at the end of November 2021. He goes on to say that the Nigerian market is the “largest market and we remain focused on bridging the digital divide and expanding our broadband capability in the country.”

“On behalf of Airtel Nigeria and the Group, I would like to thank both the government of Nigeria and the NCC for their cooperation and support in this important process.” The new license is expected to remain valid until 30 November 2031.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

Airtel Money Payments Partners Jumia in Kenya

September 30, 2020

Jumia’s Head of Financial Services, Nelly Movine

Africa’s leading e-commerce giant Jumia has partnered with Airtel Kenya in an agreement that will see consumers complete their online payment transactions using Airtel Money. Speaking on the development, Jumia’s Head of Financial Services, Nelly Movine said that “millions of Kenyans rely on mobile money daily to make fast payments. By expanding our payment options to include Airtel money, it will make it easier for more consumers to incorporate online shopping as part of their daily transactions.”

“We are delighted to be working with Jumia on this exciting partnership to enhance customer experience on the Jumia platform. We are committed to working with partners who are instrumental in promoting financial inclusion through our Airtel money services. This partnership will allow Airtel customers to shop conveniently online by using their Airtel Money wallet from wherever, at whatever time using their data enabled devices,” said Airtel Kenya, Managing Director, Prasanta Das Sarma.

Kenya is now the latest of the Jumia markets to have this payment option at checkout after Ghana and Uganda who use Airtel Money. This is a key partnership to drive the use of Airtel Money on key platforms like ecommerce. Thanks to the COVID-19 pandemic, more and more people are shopping online. Contactless payments like mobile money are popular ways to pay for goods and services online and Airtel wants to make Airtel Money visible to its customers.

Airtel Kenya, Managing Director, Prasanta Das Sarma

When you want to use Airtel Money at checkout, enter your Airtel number when paying, get a USSD push, enter your Airtel Money PIN and hit send. This news follows the partnership between Airtel Money and Standard Chartered as well as MoneyGram last month which makes it viable to their customers.

As per the latest statistics from the Communications Authority of Kenya, Airtel Money has over 329,000 registered users who moved 351 million shillings between customers to business in the first 3 months of the year.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

Airtel Africa Launches Africa-wide Money Transfer Service Through Mukuru

July 25, 2020

Airtel Africa plc, a provider of telecommunications and mobile money services in 14 countries across sub-Saharan Africa and Mukuru, one of Africa’s largest remittance organisations, have announced a partnership which will enable Mukuru customers to instantly send cross-border transfers directly to Airtel Money customer wallets in 12 African countries.

This partnership will be particularly beneficial for customers making intra-Africa payments from Southern Africa where Mukuru has a leading presence. Customers also benefit from no longer having to physically go to an Agent to receive cross-border payments.

Once Airtel Money customers receive the funds, they can be used to pay utility bills, goods and services, transferred to family or can be cashed out at any of Airtel Africa’s exclusive branches, kiosks and agents.

Raghunath Mandava, CEO, Airtel Africa, commented “This partnership empowers those without a bank account to be included in the formal financial ecosystem and to move money conveniently, seamlessly and securely. At a time when intra-Africa cross-border payments are of strategic importance, we are pleased to be working together on cross-country mobile money transfers, while also supporting local economies.”

Andy Jury, CEO, Mukuru, confirms: “This partnership exemplifies the collaborative spirit in which Mukuru is engaging with other industry leaders to provide universal access to cash and digital financial services across the continent. The enablement of digital money transfers between Mukuru and Airtel Africa customers means we can offer greater choice to the hardworking diaspora when providing for their families back home. The freedom to choose the solution best befitting your personal circumstances is pivotal to true economic empowerment.”

The partnership, subject to local regulatory approvals, will initially launch in Malawi, Zambia, Uganda, Tanzania, Kenya and the Democratic Republic of the Congo. It will then roll out to subsequent Airtel Money markets.

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer.