Bharti to invest 150 million dollars in Zain Zambia

Standing left to right – Mr. Dinesh Jebamani (Chief Manager Liability Product Management and New Age Media – Seylan Bank), Mr.Sudesh Peiris (Senior Manager – Digital Banking Channels – Seylan Bank), Ms. S.Senevirathne (Representative of the Revenue Department – Western Province), Mr. Tilan Wijeyesekera (Deputy General Manager – Retail Banking – Seylan Bank) and Mr. Malik Wickremanayaka (Deputy General Manager – Operations – Seylan Bank)

LUSAKA, June 24, 2010 (AFP) – India’s mobile phone company Bharti Airtel plans to invest 150 million dollars in Zain Zambia, chief executive officer Manoj Kohli said on Thursday. It has also acquired the operations of Zain Zambia’s parent company, Zain Africa in 15 African countries, including Burkina Faso, Chad, Congo Brazzaville and Democratic Republic of Congo (DRC) Gabon, Ghana, Kenya and Tanzania. “We are going to invest 150 million dollars in Zambia in the next two to three years in network expansion, because we want all the rural districts to be connected,” said Kohli.

Kohli told journalists in the capital Lusaka that the company would aggressively drive investments in network expansion and connection of rural areas of the southern African country.

“We want to be a partner in Zambia’s growth and will work with the government to take telecom networks deep into all corners of the country to touch the common man,” said Kohli.

Bharti owns 80 percent of Zain Zambia, the Lusaka Stock Exchange listed company with over three million subscribers in the nation of about 12 million people.