Airtel Africa is gearing up to challenge the dominance of African fintech giants with a planned initial public offering (IPO) for its mobile money arm, Airtel Money, set for the first half of 2026, according to its Chief Executive Officer, Sunil Taldar.
In its latest financial results, the telecoms giant said the IPO would help scale Airtel Money’s operations and enhance its competitiveness against platforms like Safaricom’s M-Pesa and MTN’s MoMo, two of the continent’s biggest fintech services.
Operating in 14 African countries including Nigeria, Airtel Money has experienced rapid growth, with its active user base rising by 17.3 per cent year-on-year to 44.6 million as of the first quarter of 2025. The platform offers key financial services including digital payments, credit access, and mobile remittances, especially for millions of unbanked Africans, aligning with Airtel’s push for greater financial inclusion.
“We are making significant progress in our preparations for the Airtel Money IPO and remain committed to this objective,” Taldar said. However, he stressed that the listing is subject to market conditions, saying, “we anticipate a listing event in the first half of the calendar year 2026.”
The planned IPO is expected to raise fresh capital to accelerate the fintech unit’s growth and deepen its reach. Analysts believe this move signals Airtel Africa’s intent to play a major role in the continent’s booming digital finance sector, which continues to attract billions in investment.
Airtel’s main rivals dominate the landscape: M-Pesa boasts around 70 million users, largely concentrated in East Africa, while MoMo holds approximately 65 million users, especially across West and Central Africa. However, MoMo’s operations in Nigeria have shown weakness, with MoMo PSB (Payment Service Bank) recording a 55.6 per cent drop in active wallets year-on-year, down to 2.1 million in Q1 2025. This decline presents a possible opening for Airtel Money to gain ground in Nigeria’s competitive digital payments market.
Airtel’s fintech strategy is built around leveraging its expanding user base, innovating with simple mobile-first financial products, and extending services to underserved communities. This includes pushing digital tools into areas with limited access to traditional banking.
Taldar reaffirmed the company’s mission, stating, “We will remain focused on delivering our strategy to transform the lives of our customers and support economic prosperity across our markets.” He also praised stakeholders including governments, regulators, partners, and employees for their support, noting their role in driving the company’s growth.
