Thursday, June 24, 2010

Bharti To Invest USD100 In Malawi Expansion Plan

Indian telecoms group Bharti Airtel has said it will spend USD100 million on network expansion in Malawi over the next three years, news agency Reuters reports. Earlier this month Bharti finalised the acquisition of the African assets of Kuwait-based Zain Group, in a deal valued at USD10.7 billion. The company has taken over Zain’s operations in 15 countries, including Malawi, Burkina Faso, Ghana, Kenya, Nigeria, Sierra Leone and Uganda.

The Indian company expects to introduce the Airtel brand across its new units by October 2010.

‘We plan to invest USD100 million in Malawi in the next three years to improve coverage and reach out to Malawi's rural farmers ... and help the country's economy grow,’ chief executive officer of Bharti Africa, Manoj Kohli, told a news conference. Kohli added that Bharti plans to increase the number of its subscribers in Malawi from the current 2.5 million to seven million, although no date has been given for the company to reach its target.

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