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Airtel Africa Plc (AIRTELAFRI) – the parent company of Airtel Nigeria Plc, has concluded plans to sell about 4,500 telecommunication towers across 5 countries including Tanzania and Madagascar to help reduce $3.5 billion of debt and prepare for looming bond repayments.
Africa’s second-largest carrier by subscribers, with headquarters in London, is also disposing of cellular masts in Gabon, Malawi, and Chad.
This disclosure was made by the Chief Executive Officer (CEO) of Airtel Africa Plc, Raghunath Mandava, during an interview.
Mandava said, “We are constantly seeking to bring down our debt, and we prefer to bring it down even faster with the tower deals.’’
According to the annual report of the telecoms firm, Airtel has a repayment of 750 million euros ($890 million) due in May, while an installment of $505 million is due in March 2023.
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