Bharti Airtel’s African Arm Completes First Part in $176 Million Tower Sale Deal in Tanzania

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Bharti Airtel’s African Arm Completes First Part in $176 Million Tower Sale Deal in Tanzania
11 Jan 2022
5 min read

News Synopsis

The African branch of Bharti Airtel has completed the first part of its $ 176 million telecom tower sale deal in Tanzania. The sale is supposed to be a part of the overall deleveraging strategy of the company, which raised more than $800 million with fundraise and asset sales during 2021.

The telecom tower in Africa is acquired by a joint venture company under the SBA Communications Corporation and Paradigm Infrastructure Ltd. The business unit of Airtel in Tanzania will keep on developing, maintaining and operating its equipment on the towers under separate lease agreements. 

According to a settlement agreement around $60 million from the amount will be invested in network and sales infrastructure in Tanzania and for the distribution to the Tanzanian government. 

Bharti Airtel operates in 14 African countries and provides its mobile services on the continent. With 118 million customers in Africa in 2021, the company’s African arms contribute to almost 30% of its consolidated revenue.

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