New Street Research - Airtel Africa Plc (AIRTELAF) ... New Street: African telecoms: Airtel Africa transaction highlights the value of mobile money across Africa

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New Street Research

Alastair Jones

New Street: African telecoms: Airtel Africa transaction highlights the value of mobile money across Africa

Airtel Africa has announced a sale of an ~8% stake in its mobile money business for US$200mn, valuing the asset at US$2.65bn or 6x revenues, and 12x EBITDA.

18/03/2021 4 EN

Underlyings

Airtel Africa Plc

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MTN

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MTN Nigeria Communications Plc

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Provider

New Street Research

Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.

New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:

Pan European Telecom Services and Cable
US Telecoms, Cable, Satellite and Towers
Global Emerging Market Telecoms
Japan Telecoms
Asian Internet
Pan European Healthcare
Global healthcare thematic research

We provide debt research on:

Pan European Telecom Services and Cable

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Analysts

Alastair Jones

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New Street: African telecoms: Airtel Africa transaction highlights the value of mobile money across Africa

Nigerian Telcos Strong start to the year, full price increase boost yet to flow; Q1 25 review

GEM Telcos: Consolidation – THE theme driving improved trends for EM Telcos – how far can it go?

MTN (Buy, TP: ZAR190, +59%) Q1 25: Group trends accelerating driven by Nigeria and Ghana

Thai Telcos Auction concludes, no major surprises

VIPS 2Q25 Preview: Lowering 2Q Topline Estimates

Microsoft vs. OpenAI: Implications for investors?

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