Airtel Africa receives $200 mn funding from QIA

Airtel Africa, which is planning an initial public offering (IPO), announced Qatar Investment Authority (QIA) has agreed to invest $200 million through a primary equity issuance in the company.
Airtel Africa revenue 2018Airtel Africa will use the proceeds to reduce its existing net debt. Airtel Africa is a subsidiary of Bharti Airtel. This transaction will not involve any sale of shares by existing shareholders, Airtel Africa said.

Airtel Africa earlier received $1.25 billion investment from six investors including Warburg Pincus, Temasek, Singtel and SoftBank Group International and others.

Airtel Africa announced a newly constituted Board of Directors that included representatives from Bharti Airtel and other investors. Airtel Africa has telecom operations in 14 countries across Africa.

Latest

More like this
Related

Jio strengthens market dominance with stellar subscriber growth in April-2025

Jio is the clear market leader across multiple fronts...

Vodafone fiscal-2025 revenue, subscriber growth, strategies

Vodafone said its revenue increased by 2 percent to...

IDC’s views on telecom and pay TV services market forecast

IDC forecasts worldwide spending on telecom services and pay...

Vodafone CFO Luka Mucic steps down

Vodafone’s Chief Financial Officer Luka Mucic is stepping down...