Ratio Magazine :: The Inside Track to East Africa’s Economies - Kenya: Press Releases: Bharti Airtel to Invest USD10m in Seychelles

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Kenya: Press Releases: Bharti Airtel to Invest USD10m in Seychelles

Monday, 16 August 2010

New Delhi/Nairobi, 16 August 2010 --- Bharti Airtel, a leading emerging markets telecom services provider, today announced that it will invest USD10m in Seychelles. The move comes after the Board of Directors approved the acquisition of 100% of the leading telecom operator in the country, Telecom Seychelles Limited, for an enterprise value of USD62m. During a meeting with the Vice President of Seychelles, Danny Faure, Bharti Airtel Africa Chief Executive Officer Mr. Manoj Kohli said that the investment will be phased over the next three years.

Bharti Airtel will also participate in the Seychelles East Africa submarine cable (SEAS) project. This is a 2,000 km submarine cable between Seychelles and Dar es Salaam, which will connect Seychelles to the world and the global economy. The USD34m project will especially improve the services offered to large enterprises and corporates and will further augment Telecom Seychelles world-class mobile services, which currently include new generation 3G mobile technology and integrated wireline services.

Mr. Manoj Kohli said, "We will leverage our expertise and infrastructure to offer customized data solutions for our large enterprise and corporate clients, which will help them gain a unique competitive advantage."

The acquisition of Telecom Seychelles has grown Bharti Airtel’s African footprint to 16 countries and its overall presence to 19 countries. Bharti Airtel had recently acquired the mobile operations of the Zain group in 15 countries across Africa. Telecom Seychelles started its operations in 1998 by launching mobile services. It has today, established itself with over 57% share of the mobile market.

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