AMC BV is an Airtel Africa subsidiary and the holding company for several of Airtel Africa’s mobile money operations across 14 African countries, including Kenya, Uganda and Nigeria. The mobile money arm operates one of the largest financial services on the continent. It provides users access to mobile wallets, support for international money transfers, loans, and virtual credit cards.
According to a statement released by the telecoms operator, the proceeds of the investment will be used to reduce debt and invest in network and sales infrastructure in operating countries. The deal will close in two tranches — USD 150 million invested at the first close, most likely in August 2021. The remaining USD 50 million will be invested at the second close.
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