Bharti Airtel s African venture has been a rollercoaster ride, starting with a bold move by chairman Sunil Mittal in 2008. Despite initial struggles, Airtel Africa has managed to establish a strong presence in 14 countries. Meanwhile, Mukesh Ambani s Reliance Industries is making inroads into the African telecom market with 5G infrastructure solutions. As Airtel Africa faces currency woes, the stage is set for a potential showdown between the two telecom giants.
Sunil Taldar takes over as Airtel Africa CEO as Olusegun Ogunsanya retires techmoran.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from techmoran.com Daily Mail and Mail on Sunday newspapers.
Sunil Bharti Mittal, Chairman of Bharti Enterprises and founder of Bharti Airtel, has urged the world to invest in Africa, calling it the last continent of hope. Mittal s own experience with Airtel s operations in Africa has given him insight into the continent s potential. Airtel Africa struggled initially, but has since turned around its business through rationalization, debt reduction, and network expansion. The company aims to become the leading player in the African market, benefiting from low user penetration and increasing data usage.
Airtel Africa Ltd, a UK incorporated subsidiary of Bharti Airtel Ltd has announced that six leading global investors have agreed to invest USD 1.25 billion through a primary equity issuance in the company at a post money equity value of about USD 4.4 billion.
MTN Nigeria, a subsidiary of South Africa-headquartered MTN Group Ltd, announced earlier today that it has received a final approval from the Central Bank of Nigeria to begin operating Momo Payment Service Bank Ltd in the West African country. | Pulse Ghana