Indian telecom operator Essar plans to invest US$2bn in its African operations this year, says India’s Business Standard.
Quoting a “top source” in the company, the newspaper says the investment would extend Essar’s African operations across six to seven…
Indian telecom operator Essar plans to invest US$2bn in its African operations this year, says India’s Business Standard.
Quoting a “top source” in the company, the newspaper says the investment would extend Essar’s African operations across six to seven countries, from three today.
The article says Essar is also in talks with the South African government to set up a power plant in the country.
Essar’s African ambitions are well known. The group recently expanded in Congo and Uganda by buying a majority stake in Warid Telecom, previously owned by the Abu Dhabi Group.
It is already present in Kenya through a majority stake in Econet, which operates as Yu, and previously said it would bid for licences in Tanzania, Congo and Cameroon. It also said it would take part in the privatisation of Zambian telecom incumbent Zamtel, although it is not among the shortlisted bidders.