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Africa Business News of Thursday, 1 April 2021

Source: reuters.com

Mastercard to invest US$100 million in Airtel Africa's mobile money unit

Mastercard Inc will invest US$100 million in Airtel Africa’s mobile money operations.

This would value the business at US$2.65 billion, the London-listed company said on Thursday.

Mastercard will hold a minority stake in Airtel Mobile Commerce in line with Airtel Africa’s plan to monetise the mobile money business by selling up to a 25% stake in the unit, the company said.

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