The Tanzanian government is not looking to sell its 40% stake in Airtel Tanzania, Finance Minister Mustafa Mkulo was quoted telling The East African Business Week.
Last year, Bharti Airtel, India’s largest mobile operator, finalised the acquisition of…
The Tanzanian government is not looking to sell its 40% stake in Airtel Tanzania, Finance Minister Mustafa Mkulo was quoted telling The East African Business Week.
Last year, Bharti Airtel, India’s largest mobile operator, finalised the acquisition of Kuwait-based Zain’s African assets, including a 60% stake in Airtel Tanzania, then known as Zain Tanzania.
Shortly after, Bharti Airtel reportedly approached Tanzania to buy the state’s 40% stake in Airtel Tanzania for US$11m.
But the company’s success of its mobile banking services has encouraged the Tanzanian government to maintain its stake in the company, according to The East African Business Week.