Bharti International plans massive investment in Africa
2 June 2011
Massive investment from Bharti International is expected to have a significant impact on mobile communications in several African nations.
The Indian firm plans to pump $1 billion (£610 million) into its growing African mobile businesses this year.
Nigeria, Ghana, Kenya and Uganda's operations will benefit from the additional funding which was subsequent to the telecom firm receiving the necessary regulatory approvals in all 16 countries on the African continent acquired in the preceding year.
Sunil Mittal, group chief executive officer at Bharti International, reiterated the firm's resolve to further grow its Nigerian business, adding that the success of the firm on the continent was largely dependent on Nigeria.
"We have already invested $11 billion here and have committed nearly $1 billion investment for this year for expansion of our networks," he said in a report cited by BusinessDay yesterday.
He appeared to rule out further expansion into other African countries, however.
"At the moment, we are focusing on our 16 countries … for any future expansion in Africa."