Bharti Airtel's Indus Towers Enters Africa with Nigeria, Uganda, and Zambia Expansion

Indus Towers, a subsidiary of Bharti Airtel, is expanding its presence in Africa with Airtel's Africa business as its anchor customer. The expansion will start with Nigeria, Uganda, and Zambia, fueled by Indus' robust financial position and steady payments from Vodafone Idea. Indus generated Rs 1,570 crore in free cash flow in Q1 2025, despite withholding dividends to focus on inorganic growth opportunities and servicing elevated capex.

Indus Towers, a subsidiary of Bharti Airtel, is expanding its presence in Africa, with Nigeria, Uganda, and Zambia as its initial markets. The expansion is fueled by Indus' robust financial position and steady payments from Vodafone Idea. Indus generated Rs 1,570 crore in free cash flow in Q1 2025, despite withholding dividends to focus on inorganic growth opportunities and servicing elevated capex [1].

The telecom infrastructure company's expansion strategy aligns with Airtel's Africa business, which is the anchor customer for Indus Towers. The move comes amidst a growing demand for telecom infrastructure in Africa, driven by increasing mobile penetration and data usage. According to a recent report by ICICI Securities, the adjusted gross revenue (AGR) of the top three telecom operators in India collectively rose 16.6% year-on-year in Q1FY26, indicating a strong performance in the sector [2].

Indus Towers' expansion in Africa is expected to provide significant growth opportunities, given the continent's vast potential for telecom infrastructure development. The company's strong financial position and steady cash flow from Vodafone Idea will be crucial in funding the expansion and supporting the company's growth ambitions.

References:
[1] https://economictimes.indiatimes.com/industry/telecom/telecom-news/airtel-jio-post-agr-growth-in-q1fy26-vodafone-idea-stays-flat/articleshow/123642609.cms
[2] https://economictimes.indiatimes.com/industry/telecom/telecom-news/airtel-jio-post-agr-growth-in-q1fy26-vodafone-idea-stays-flat/articleshow/123642609.cms