Airtel Money is Now On its Own -Telecoms group Airtel Kenya has announced that it will be splitting its mobile money business – Airtel Money – from its main... -
Telecoms group Airtel Kenya has announced that it will be splitting its mobile money business – Airtel Money – from its main company.“Following this business separation, Airtel Money Kenya Limited will take over and continue the provision of the Airtel Money Services, in collaboration with the licensed telecommunications network of Airtel Networks Kenya Limited,” reads the announcement from Airtel.
“The continued use of the Airtel Money Service shall be deemed as proof of the customer’s acceptance of the transfer of their Airtel Money Account and related Customer Data and or sharing of the Customer Data between Airtel Money Kenya Limited and Airtel Networks Kenya Limited,” the announcement states., Airtel Money is the country’s second-most popular mobile money platform after Safaricom’s payments powerhouse M-PESA, which enjoys a 99% market share.
Airtel Kenya raised $550-million after the transaction, selling shares to four companies, namely Rise Fund , followed by Qatar Holding LCC , then Mastercard and finally Chimera Investment LLC .
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