Indian firm to invest in Kenya

03/06/2011 - Kenya property & investment news Posted by Neil King
Indian firm to invest in Kenya

Bharti International is set to invest an additional $1 billion in its African operations.An additional investment of around $1 billion has been earmarked by one Indian company for investment in Kenya and other African countries.Bharti International will use the funds to support network expansion of its mobile business in Nigeria, Ghana, Kenya and Uganda.The move follows news that Bharti has received the necessary regulatory approvals in all of the 16 countries it is looking to operate in of the African continent, Business Day reported.Sunil Mittal, chief executive at Bharti, said that the firm has already invested $11 billion in the region, but that the extra funding has been committed in order to expand the networks.He added: "At the moment, we are focusing on our 16 countries and for any future expansion in Africa, we will see as the opportunities come, as there is nothing on the table at the moment."The firm is known in India for offering very competitive low cost mobile rates, although it remains to be seen what strategy will be adopted in Kenya and the other African countries.