Passive infrastructure provider Indus Tower, now a subsidiary of Bharti Airtel, Tuesday said it plans to expand its presence in African markets with Airtel's Africa business as its anchor customer.
"Recognizing the growth potential in emerging geographies, the Board has approved the Company’s foray into African markets, beginning with Nigeria, Uganda, and Zambia," Indus said in an exchange filing.
Indus said the expansion will be fueled by its robust financial position, with Airtel as its anchor customer.
The tower company generated Rs 1,570 crore in free cash flow in the quarter ended June 2025 following steady payments from cash-strapped Vodafone Idea which has cleared most of its past dues to the company.
Despite generating strong free cash flows during the quarter, Indus earlier had taken the decision to withhold dividends to shareholders, stating that the cash will be used for inorganic growth opportunities, servicing elevated capex.
"As part of its broader growth strategy, the Company will continue to evaluate expansion opportunities in other African markets where Airtel has an established presence," Indus said.
Bharti Airtel has a sizeable presence in Africa, with over 169.4 million customer in 14 markets across the continent. American Tower Corporation (ATC) has been the primary provider of passive infrastructure to Airtel's Africa business, with a strategic partnership announced in 2022.
“By leveraging our expertise in delivering innovative and cost-effective solutions, we are well-positioned to differentiate ourselves in Africa’s fast-growing telecom market and emerge as the preferred tower company," Prachur Sah, Managing Director and CEO, Indus Towers.
"Recognizing the growth potential in emerging geographies, the Board has approved the Company’s foray into African markets, beginning with Nigeria, Uganda, and Zambia," Indus said in an exchange filing.
Indus said the expansion will be fueled by its robust financial position, with Airtel as its anchor customer.
The tower company generated Rs 1,570 crore in free cash flow in the quarter ended June 2025 following steady payments from cash-strapped Vodafone Idea which has cleared most of its past dues to the company.
Despite generating strong free cash flows during the quarter, Indus earlier had taken the decision to withhold dividends to shareholders, stating that the cash will be used for inorganic growth opportunities, servicing elevated capex.
"As part of its broader growth strategy, the Company will continue to evaluate expansion opportunities in other African markets where Airtel has an established presence," Indus said.
Bharti Airtel has a sizeable presence in Africa, with over 169.4 million customer in 14 markets across the continent. American Tower Corporation (ATC) has been the primary provider of passive infrastructure to Airtel's Africa business, with a strategic partnership announced in 2022.
“By leveraging our expertise in delivering innovative and cost-effective solutions, we are well-positioned to differentiate ourselves in Africa’s fast-growing telecom market and emerge as the preferred tower company," Prachur Sah, Managing Director and CEO, Indus Towers.
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