Bharti Airtel Says It Invested $1.2 Billion in Nigerian Unit
Bharti Airtel Ltd. (BHARTI)’s Nigerian unit invested $1.2 billion in the past two years to grow its business in Africa’s most populous country, the Lagos-based company said today in an e-mailed statement.
Bharti Airtel Nigeria Ltd. also increased its subscribers 31 percent to 20 million while traffic on its network more than doubled since Bharti Airtel, India’s largest mobile-phone operator, acquired the unit, it said.
“Airtel Nigeria is the lodestar in the 16-country Africa operations of Bharti Airtel Group,” the company said. Nigeria is Africa’s most populous nation with more than 160 million people.
There were 120.4 million users of the Global System of Mobile communication phones in Nigeria at the end of June, according to figures published on the website of the Nigerian Communications Commission, the industry regulator.
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