When Airtel Money lists on the London Stock Exchange later this month, it will do so without its struggling Nigerian fintech business. A Central Bank of Nigeria (CBN) directive required the mobile money business to transfer its 25% stake in SmartCash, the vehicle through which Airtel operates its Nigerian fintech business, back to Airtel Networks Limited, its Nigerian telecom subsidiary, according to Airtel Money’s IPO prospectus.
The deal was completed for $3 million. But Airtel Money says it is exploring ways to bring SmartCash back into the group. However, the Nigerian business will not be part of the fintech company investors are buying when it lists on October 14.
“The Group is exploring options to bring Smartcash Nigeria within the Group’s perimeter, consistent with the structure of the Group’s other operations,” Airtel Money said in its IPO prospectus. “There can be no assurance as to the timing or outcome of these, which remain subject to regulatory approvals.”
The prospectus describes the group as a pan-African fintech platform operating in 13 African countries and serving approximately 53 million monthly active users as of June 30, 2026.
Originally published by TechCabal.