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Airtel sells mobile money service stake to PE firm for Sh21 billion

Mr Prasanta Das Sarma, Airtel Kenya chief executive officer, during a past product promotion. FILE PHOTO | NMG

By  Victor Juma

Business Editor

Nation Media Group

Airtel Africa is set to sell an undisclosed minority stake in its Pan-African mobile money business to private equity firm TPG for $200 million (Sh21.9 billion), underlining the huge value of mobile financial service platforms.

The multinational announced the transaction Thursday through the London Stock Exchange where it is listed.

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