Bharti Airtel posts mixed results for East Africa
24 August 2018
Indian telecommunication giant Bharti Airtel reported mixed results in the region for 2017, with its Ugandan unit’s profits growing by almost 30 per cent to $62.12 million, from $44.9 million in 2016, while the Tanzanian and Kenyan operations posted a combined loss of $135.6 million, pushing their accumulated losses to $1.07 billion.
The poor but improved performance of the regional units shows that the firm is still struggling to find a foothold, even as it keeps these units afloat through borrowing.
According to the firm's annual report, Airtel Kenya made a $59.5 million loss in the year to December 2017, down from $79.4 million the previous year. Read the full article on The East African here.