Bharti Airtel to invest $1 billion in Africa

“We have already invested $11 billion here and have committed nearly $1 billion investment for this year for expansion of our network,” Bharti group chief Sunil Mittal said, adding that the company is currently focussing on the 16 countries where it is based and will contemplate expansion if any suitable opportunity would arise.

“In my view, Africa offers a long-term opportunity for Indian businesses in manufacturing, agriculture, services and it is my desire and recommendation that more and more Indian businesses should participate in Africa,” Mittal said. During 2010-11, Airtel’s Africa operations reported a net loss of Rs 480 crore, while revenues stood at Rs 13,083.4 crore.