Commercial vehicle maker Ashok Leyland said it received an order from Senegal-based bus manufacturing firm Senbus Industries for supplying 400 units of Eagle 916 minibuses worth Rs 16.2 crores. Senegal will start receiving the buses towards the end of June this year. Eagle 916 buses, developed exclusively for the African market, feature inline pump technology […]
Bharti Airtel said shareholders of Airtel Africa Ltd, which houses the Indian company’s operations in 14 African countries, have constituted a board of directors, including Bharti Airtel Chairman Sunil Mittal and his son Shravin Bharti Mittal. Others appointed to the board include both Airtel representatives as well as those of big private equity players who invested […]
Bharti Airtel today denied a Bloomberg report that said that the company has delayed the IPO of its Africa unit. “We would like to categorically state that Airtel Africa IPO preparations are proceeding as per plan and there is no change in plans,” the Indian telco said in a statement. “[A] new board is in place […]
Bharti Airtel said it has raised $1.25 bln (Rs 9,150 cr) from institutional investors by selling shares in its Africa unit and intends to list Airtel Africa soon. The investors who have committed to invest in the UK-based unit include Warburg Pincus, Temasek, Singtel, SoftBank Group International and others, it said. The investment will be at […]
ONGC said the government of Mozambique has approved the field development plan for a gas field in ‘Area 1’, one of the largest gas blocks in East Africa. ONGC owns 16% of the block, while 4% of the block is owned by Oil India Ltd and another 10% is controlled by Bharat Petroleum Corporation Ltd […]
Telecom operator Bharti Airtel said it received the approval of the Rwanda Utilities Regulatory Authority for its acquisition of Tigo Rwanda Limited, a subsidiary of Millicom International Cellular S.A. The deal was announced a month ago. “The merged entity will have the largest customer base in Rwanda with 5.9 million subscribers,” it said. It will […]
Bharti Airtel said it is merging its operations in the African nation of Ghana with the local unit of Millicom International Cellular. “Under the joint agreement, Airtel and Millicom will have equal ownership (50:50) and governance rights in the combined entity, which will have revenues of approximately USD 300 million,” the companies said. Both Airtel […]
Textiles and garments brand Raymond inaugurated a garment manufacturing plant in Ethiopia to gain duty-free access to the US and European markets. The plant was set up at a cost of Rs 100 cr and will employ over 2500 people in the first phase. More people will join later, the company said. Ethiopia also gives […]
Qualcomm Inc and Bharti Airtel Africa have launched a cheap 3G smartphone meant for Africa costing just $53 (Rs 3,275) before taxes. “The device will start selling from $53 subject to various governments levies and will be available at local retail outlets,” Airtel said. The 3G new enabled phone has a memory of 4GB ROM […]
India can aspire to quadruple its revenues from Africa to USD 160 billion by 2025 by developing its presence in sectors where India has a unique value proposition and African nations have high needs such as IT services, agriculture, infrastructure, pharmaceuticals and consumer goods, according to a McKinsey report released at a CII event. According […]
