Home | News

Airtel planning to dominate Africa

Bharti Airtel Ltd is planning to dominate the African markets as it has decided to expand its high speed 4G data network across the continent. Till now, Bharti Airtel has invested close to $8 billion in Africa. In February 2018, the company said that it will consider an IPO for the Africa business and then in October 2018, the company said that six investors, including Warburg Pincus, Temasek, Singtel and SoftBank Group International, will invest $1.25 billion through a primary equity issuance in Airtel Africa. The funds will be used to pare Airtel Africaĺs debt, which then stood at $5 billion, and for growth of its operations, which have seen a turnaround in recent quarters.