Investors pump Sh125b into Airtel

Six firms have invested Sh125 billion in Airtel Africa, a UK incorporated subsidiary of Bharti Airtel.

The telco said Warburg Pincus, Temasek, Singtel, SoftBank Group International investors, had made the investment through a primary equity issuance at a post money equity value of $4.4 billion (Sh440 billion).

Bharti Airtel Africa Chief Executive Raghunath Mandava said in a statement the proceeds would be used to cut the firm's Africa debt estimated at Sh500 billion debt.