Bharti Airtel Africa


BIO participates, together with several other development finance institutions, in a loan arranged by the Dutch development bank FMO, to finance the capital expenditure of the mobile phone network expansion in 17 sub-Saharan countries of Bharti Airtel Africa, a telecom operator. Bharti is the leading telecom operator in India and worldwide the nr. 4 operator by subscribers. In Africa, Bharti is present in 17 countries through BAA and is implementing its business model, which is based on low tariffs, which in turn leads to an increase of traffic and growth of subscribers. Bharti’s business model is focusing on a cost efficient tariff competition, in order to increase numbers of subscribers at the lower end of the income scale and in rural areas. The realization of the business model is based on a 5 years investment plan of USD 5,5 billion to be financed through equity, cash flow and DFI financing.

BIO provides a hard currency loan, which the private financial markets do not offer on adequate terms and conditions to sub-Saharan markets. Since commercial banks are getting more reluctant to finance long-term investment in the region, BIO’s long-term financing will be of significant value added to the region.

Website : 

  • Investment amount (€):

    EUR 15 million

    Registered office: Netherlands Beneficiary countries: Subsaharan Africa

  • Contract signature :


  • Nature of intervention :

    Senior loan

  • Development impacts :

    • 1 — improving access to communication,
    • 2 — increase in tax revenues
    • 3 — offering value added services