Airtel Africa Plc has announced plans to list its mobile money subsidiary in the first half of 2026, pushing back an earlier target set for 2025 due to shifting market dynamics. The decision highlights the company’s strategic emphasis on expanding its digital financial footprint across the continent while navigating an increasingly complex regulatory environment.
“We are making significant progress in our preparations for the Airtel Money IPO and remain committed to this objective,” said Airtel Africa CEO Sunil Taldar in a statement. “However, we are also mindful of evolving market conditions. Therefore, subject to these conditions, we anticipate a listing event in the first half of calendar year 2026.”
Airtel Money, currently operating in 14 countries including Uganda, Tanzania, Zambia and the Democratic Republic of Congo, continues to report robust growth. The platform recorded a 33.3% year-on-year surge in transaction value in 2024, reaching an annualised total of $146 billion. Its customer base also expanded by 18.3%, hitting 44.3 million users.
The anticipated initial public offering (IPO) is expected to boost investor confidence, unlock shareholder value and enable further investment in digital infrastructure. With rising demand for mobile-based financial services among Africa’s largely unbanked population, Airtel Money has become a critical pillar of Airtel Africa’s growth strategy.
However, the company’s expansion plans are playing out against a backdrop of growing regulatory scrutiny. Authorities in Kenya, Uganda and Malawi have launched investigations into alleged pricing irregularities and a lack of transparency in currency conversions. In January 2025, the COMESA Competition Commission began a formal inquiry into Airtel Money’s pricing policies.
“The alleged conduct is considered misleading and unconscionable as it denies consumers the right to material information required to make informed decisions,” the Commission said in a statement (PDF).
The revised IPO timeline reflects a broader caution within Africa’s fintech sector amid global financial uncertainty and increasing compliance requirements. As digital financial services mature, companies are under pressure to strike a balance between rapid growth and regulatory adherence.
Airtel Money’s listing is expected to serve as a key indicator of how Africa’s telecom giants are repositioning themselves as influential players in the fintech ecosystem. The move also comes as competitors like MTN gain momentum in markets such as Nigeria, where recent regulatory shifts have enabled them to expand their mobile money operations and secure full licensing.