Global payment processor Mastercard Inc will invest $100 million in Airtel Africa’s mobile money operations, valuing the business at $2.65 billion, the London-listed company said on Thursday.

Airtel Africa is targeting a public listing of Airtel Mobile Commerce BV (AMC BV) within the next four years. Earlier this month, private equity firm TPG’s The Rise Fund invested $200 million in AMC BV.

Global payment processor Mastercard Inc will invest $100 million in Airtel Africa’s mobile money operations, valuing the business at $2.65 billion, the London-listed company said on Thursday.

Airtel Africa is targeting a public listing of Airtel Mobile Commerce BV (AMC BV) within the next four years. Earlier this month, private equity firm TPG’s The Rise Fund invested $200 million in AMC BV.

Reuters