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Bharti to invest $600m in Nigeria
07 July 2010
CEO Manoj Kohli announces plan for ex-Zain unit
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Bharti
Bharti Airtel
Nigeria
Zain
Celtel
Bharti Airtel is planning to invest $600 million in its Nigerian mobile phone business over the next three years. The Indian telecom company would also expand its services into Nigeria’s rural areas.
About 50% of the amount will be spent in the first year, according to Manoj Kohli, CEO of Bharti Airtel, which has taken control of the former Zain operations in sub-Saharan Africa, including Zain Nigeria.
It will also introduce a corporate social responsibility programme that includes setting up of schools that would offer free quality education to underprivileged children in rural communities.
Bharti paid $10.7 billion to take over Zain’s holdings in Burkina Faso, Chad, the Republic of Congo, Congo, Gabon, Ghana, Kenya, Malawi, Madagascar, Niger, Nigeria, Sierra Leone, Tanzania, Uganda and Zambia. GTB