Bharti airtel plans to invest $ 1 billion in its African operations to expand its network to 16 countries.
According to Sunil Bharti Mittal, chairman and managing director, Bharti airtel, “We have already invested $ 11 billion here and have committed nearly $ 1 billion investment for this year for expansion of our network.?
The company now plans to step up its network in Nigeria, Ghana, Uganda and Kenya.
In 2010, Bharti had acquired Kuwait-based Zain Telecom’s African business for $ 10.7 billion. The closure of the deal had implied that Bharti obtained all the required approvals from the governments and regulators of each of these 16 nations.
During 2010-11, airtel’s Africa operations reported a net loss of Rs 4.80 billion, while revenues stood at Rs 130.83 billion.
