My Airtel Money App Download
Lester Chiaramonte
London and Lagos -- Airtel Africa, a leading provider of telecommunications and mobile money services, with a presence in 14 countries across Africa, today announces the signing of an agreement under which The Rise Fund, the global impact investing platform of leading alternative investment firm TPG, will invest $200 million in Airtel Mobile Commerce BV ("AMC BV"), a wholly owned subsidiary of Airtel Africa plc (the "Transaction"). AMC BV is currently the holding company for several of Airtel Africa's mobile money operations; and is now intended to own and operate the mobile money businesses across all of Airtel Africa's fourteen operating countries.
The Transaction values Airtel Africa's mobile money business at $2.65 billion on a cash and debt free basis. The Rise Fund will hold a minority stake in AMC BV upon completion of the Transaction, with Airtel Africa continuing to hold the remaining majority stake. The Transaction is subject to customary closing conditions including necessary regulatory filings and approvals, as necessary, and the inclusion of specified mobile money business assets and contracts into AMC BV.
The Transaction is the latest step in the Group's pursuit of strategic asset monetization and investment opportunities, and it is the aim of Airtel Africa to explore the potential listing of the mobile money business within four years. The Group is in discussions with other potential investors in relation to possible further minority investments into Airtel Money, up to a total of 25% of the issued share capital of AMC BV. There can be no certainty that a transaction will be concluded or as to the final terms of any transactions.
Operating under the Airtel Money brand, Airtel Africa's mobile money services is a leading digital mobile financial services platform catering to a large addressable market in Africa (characterised by limited access to formal financial institutions with limited banking infrastructure) and includes mobile wallet deposit and withdrawals, merchant and commercial payments, benefits transfers, loans and savings, virtual credit card and international money transfers.
Mobile money services are available across the Group's 14 countries of operation, however in Nigeria the Group offers Airtel Money services through a partnership with a local bank and has applied for its own mobile banking licence. It is the intention that all mobile money operations will be owned and operated by AMC BV.
In our most recent reported results for Q3, the mobile money service segment (corresponding to all the businesses that are intended to be transferred to AMC BV) delivered a strong operational performance:
Our mobile money business benefits from strong network presence with our core telecom business through the extensive distribution platform of kiosks and mini shops as well as dedicated Airtel Money branches supplementing our extensive agent network, to facilitate customers' assured wallet and cash.
The profits before tax in the full year ending 31 March 2020 and the value of gross assets as of that date, attributable to the mobile money businesses were $143.4 million and $463.2 million, respectively.
"In line with our vision of enhancing financial inclusion, Airtel Africa offers a unique digital mobile financial services platform under the Airtel Money brand. In most of our markets there is limited access to traditional financial institutions, and little banking infrastructure, with less than half of the population having a bank account across sub-Saharan Africa. Our markets therefore afford substantial market potential for mobile money services to meet the needs of the tens of millions of customers in Africa who have little or no access to banking and financial services, and this demand is driving growth.
With today's announcement we are pleased to welcome The Rise Fund as an investor in our mobile money business and as a partner to help us realise the full potential from the substantial opportunity to bank the unbanked across Africa."
"Financial inclusion is a global issue that is most acute in Africa. Through Airtel Money, Airtel Africa has built a unique platform that is closing the gap between traditional financial institutions and the millions of unbanked Africans across the 14 countries where Airtel Africa operates. We look forward to working with Airtel Africa to enhance their mobile money services, broaden its use cases, and grow into new markets. With this investment in Airtel Africa's mobile money operations, we are excited to expand The Rise Fund's global fintech portfolio and continue to deepen our focus on improving financial inclusion in Africa and around the world."
Airtel Africa is a leading provider of telecommunications and mobile money services, with a presence in 14 countries in Africa, primarily in East Africa and Central and West Africa.
Airtel Africa offers an integrated suite of telecommunications solutions to its subscribers, including mobile voice and data services as well as mobile money services, both nationally and internationally.
The Group aims to continue providing a simple and intuitive customer experience through streamlined customer journeys.
For more information visit www.airtel.africa
Airtel Africa offers an integrated suite of telecommunications solutions to its subscribers, including mobile voice and data services as well as mobile money services both nationally and internationally. The Group aims to continue providing a simple and intuitive customer experience through streamlined customer journeys.
Airtel Money is the dedicated mobile money platform for Airtel Africa. Airtel Money offers mobile money services including payments, microloans, savings and international money transfers. The distribution model of kiosks, mini shops and dedicated Airtel Money branches enables customers to access the funds they need.
Airtel Africa offers an integrated suite of telecommunications solutions to its subscribers, including mobile voice and data services as well as mobile money services both nationally and internationally.
The GSMA recently published the results from its Global Mobile Money Adoption Survey, documenting the degree of adoption of mobile money for the unbanked services across the world. The 52 participants to the survey together reported over 60 million registered users as of April 2012. However, a much smaller number of customers were active and only 8 deployments had been experiencing a quick customer uptake. This report provides evidence that supply side factors such as a supportive regulation, a large GSM base, and a high of investment can contribute to the rapid growth of these services. However, not much information is available in the public domain about drivers of adoption and usage from the customer perspective. In this blog post, I present some results from a survey about the adoption drivers for customers at Base of the Pyramid (BoP).
I recently conducted a survey of 283 mobile money users from 8 poor areas around Nairobi, in Kenya. The customers surveyed were users of M-Pesa, Airtel Money or Orange Money. The research objective was to create a model to explain adoption of the mobile money among the BoP population. This model would be used to predict adoption of products that are yet to be deployed or evaluate the success of mobile money products that are in operation. Secondarily, the study was to establish the most important factors considered by the un-banked in choosing a mobile money product. Seven constructs were theorized and operationalised to either cause Behavioural Intention or Actual Use of mobile money.
According to the respondents, facilitating conditions was the single most important factor they would consider when signing up for a mobile money service. Transaction Cost, Social Influence, Perceived Trust and Performance Expectancy were then the most cited factors (in decreasing order of significance).
The results of this study have significant implications for mobile operators. Given the large investment in developing and deploying mobile money products, a good understanding of the drivers of adoption is useful so as to make the organizations prioritize their resources appropriately.
Since facilitating conditions turned out to be the most important construct determining usage of mobile money among the poor, management must put systems in place to support the use of their mobile money products.
Reliable and responsive customer support services, strategic positioning of agents, customer education around product features, availability of liquidity, and marketing around each of these aspects are examples of what mobile money managers can focus on.
In a nutshell, as mobile money products are being rolled out all over the world, thinking about what determines adoption and usage is key. The research provides a basis for investigating what could make a new mobile money service attractive from a consumer point of view. In addition, for products that are already in the market, the research informs what parameters to further investigate with the intention of strengthening the product and improving adoption.
Covid-19 has triggered a widespread shift in the adoption of mobile money services, with the GSMA reporting a 12.7% increase in the number of registered global mobile money accounts in 2020. As the trend continues its upward spike, this partnership further responds to the growing dominance of cashless societies across the sub-Saharan region and the need to penetrate digital innovation deeper into communities across Africa.
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Airtel is India's leading telecommunications company, contributing to India economic resurgence and reformation. It is India's first mobile payment banking system, allowing customers to pre or post pay bills or transfer money. Today airtel provides Mobile services, Telemedia services, to connecting India's leading 1000+ corporates. airtel also connects Indians living in USA, UK and Canada with a "call home" service.
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