Bharti gets 2G, 3G licences in Rwanda, to invest $100mn

The company reported to have 46.3 million mobile customers on its network by in Africa in the first quarter which ended on 30 June 2011. The company reported to have earned average revenue per user of $7.3 per month during the quarter

New Delhi: Expanding its footprint in Africa, Bharti Airtel will operate second generation (2G) and third generation (3G) mobile services in Rwanda for which it has announced an investment of $100 million in the next three years, reports PTI.

The company said it has been awarded licences to operate mobile services by the Rwanda government.

“We are pleased to be part of the vision of the government of Rwanda to take telecommunications forward as a priority.

“We will work with the government to bring affordable and best in class mobile services that add value to the lives of people of Rwanda and contribute towards bridging the digital divide in the country,” Sunil Mittal, chairman and managing director, Bharti Airtel said in a statement.

Rwanda is amongst the fastest growing telecom markets in Africa. According to the National Statistics Institute of Rwanda, the mobile penetration in the country was 38.4% as of July 2011, the statement said.

“Rwanda is a key telecom market with immense growth potential and will strengthen Bharti Airtel’s footprint in East Africa,” Mr Mittal added.

Airtel already had its presence in 16 countries of Africa which include Burkina Faso, Chad, Democratic Republic of the Congo, Republic of the Congo, Gabon, Ghana, Kenya, Malawi, Madagascar, Niger, Nigeria, Seychelles, Sierra Leone, Tanzania, Uganda and Zambia.

“We are entering an exciting era in telecommunications in Rwanda, which entails bringing advanced broadband wireless services at more competitive prices and allowing more people in rural areas to access mobile technology,” minister in the president’s office in charge of ICT, Ignace Gatare said.

He welcomed Bharti Airtel to Rwanda and expressed confidence that its experience in operating in emerging markets will add immense value to telecommunications sector in Rwanda.

“This also marks the largest investment out of India into Rwanda and will be invaluable in enhancing the economic co-operation between the two nations,” Mr Gatare said.

Bharti made its entry in to African by acquiring Kuwait based Zain Telecom for about $10.7 billion (Rs48,000 crore approximately).

The company reported to have 46.3 million mobile customers on its network by in Africa in the first quarter which ended on 30 June 2011. During the quarter, the company added 2.1 million customers. The company reported to have earned average revenue per user of $7.3 per month during the quarter.

User

July-Sept growth to be lower than 7.7% recorded in Q1: Montek

“(Growth in) the second quarter will not be better than the first quarter,” Planning Commission deputy chairman Montek Singh Ahluwalia said. “In the first half (April-June), the economic growth would be below 8%,” he added

New Delhi: India’s economy will grow at a lesser pace in July-September period this fiscal less than 7.7% achieved in April-June quarter, reports PTI quoting the Planning Commission.

“(Growth in) the second quarter will not be better than the first quarter,” Planning Commission deputy chairman Montek Singh Ahluwalia said addressing a panel discussion at ICC event here.

“In the first half (April-June), the economic growth would be below 8%,” he added.

“In the Planning Commission we have done our calculation. It could be around 8% (for the entire 2011-12 fiscal). There is more downside risk than upside,” he added.

The Plan panel is eyeing 9% annual average growth rate in the 12th Plan (2012-17).

It had already scaled down annual average growth rate during the current Plan (2007-12) to 8.2% from the originally targeted 9%.

In a recent full Plan Panel meeting chaired by prime minister Manmohan Singh, the panel has estimated the economic growth in the current fiscal at 8%-8.3%.

Commenting on price rise, Mr Ahluwalia said, “Growth is not bad but inflation is worse.”

“Monetary policy operates with fairly substantial lag.

The lag effect is between six to nine months… going by that logic last two interest rate hikes have had no impact on the ground.”

Inflation was 9.22% in July, much above the Reserve Bank of India’s (RBI) comfort level of 5%-6%.

User

Regulation: 3 cheers for 2 decisions

Competition Commission shows the way

Three cheers to the Competition Commission of India...

Premium Content
Monthly Digital Access

Subscribe

Already A Subscriber?
Login
Yearly Digital+Print Access

Subscribe

Moneylife Magazine Subscriber or MSSN member?
Login

Yearly Subscriber Login

Enter the mail id that you want to use & click on Go. We will send you a link to your email for verficiation

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)