Volatile foreign exchange rates across Africa are currently hamstringing operators, with notable names such as MTN and Airtel revealing how badly their coffers were hit in recent financial results.
Indian billionaire and Bharti Enterprises chairperson Sunil Mittal (pictured) has sold US$976 million worth of Bharti Airtel shares as he looks to secure funds for other ventures.
Safaricom has reportedly sought permission from the Communications Authority of Kenya to build its own subsea cable, aiming to reduce reliance on third-party providers and enhance network resilience following last year’s major cable cuts.
The parent companies of Indonesian telcos XL Axiata and Smartfren have reportedly asked permission from telecoms regulator KemKominfo to carry out a long-planned merger of the two companies – and seem likely to get it.