Business
Bharti Airtel To Invest N75bn In Zain
Bharti Airtel, the new majority shareholder in Zain Nigeria, is set to inject a fresh $500m (N75 billion) in the company in a move that is calculated to alter the competitive edge in the Nigerian telecommunications industry.
A team of the company‘s top officials, led by its Chairman, Mr. Oba Otudeko, disclosed this during a visit to the Nigerian Communications Commission in Abuja on Monday.
The team also unfolded plans that would lead to the transformation of the country‘s rural areas through network connectivity, education of children, as well as services that could be afforded by rural dwellers.
Bharti Airtel recently purchased the African operations of the Zain Group at a cost of $10.7bn, thereby resulting in the transfer of ownership of Zain Nigeria, the most rebranded company operating in the country presently, to the Indian company.
Making an introductory remark, Otudeko said the Bharti Airtel Group had proven itself in India, thereby making it the right company to take over the operations of Zain in Nigeria.
He said, “Bharti Airtel is the largest GSM operator in India, which has a population of about 1.2 billion people. With the kind of money they have put into this transaction, it can only be a serious investment.”
Unfolding the vision of the new company in Nigeria, its Managing Director, Mr. Rajan Swaroop, said it would focus on affordability and quality, adding that both must go together.
Swaroop said the company would focus on the provision of connectivity in the rural areas and use telecommunications services to transform agricultural communities since a greater proportion of the population lived in rural areas.
He also said that the company would offer education to children in rural areas, adding that such progrommes had been carried out in rural India.
The Bharti Airtel boss said the company was not only the largest GSM operator in India, but the fifth largest operator in the world with 180 million subscribers.
He said, “Africa is a continent for growth and Nigeria is the most important market in Africa. We are very eager to make impact on the Nigerian market. This country is in dire need of rural transformation.”
The acting Executive Vice-Chairman, NCC, Dr. Bashir Gwandu, said the nation was always excited whenever a new investment came into the country.
He charged the leadership of the company to ensure that it delivered on its pledge of lower tariffs and quality network as Nigerians had been yearning for them.
Gwandu also disclosed that the commission had finished work on a programme aimed at driving down tariffs and improving the quality of services rendered by operators.
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