The country’s largest telecom operator Bharti Airtel today said it will invest $25 million for the development of 3G network and introduction of Airtel Money services in the African country of Malawi.
“Our investment of $25 million in the development of a 3G network and introduction of Airtel Money are a clear demonstration of our commitment to deepen our network and bridge the digital divide,” Bharti Airtel CEO (International) and Joint MD, Mr Manoj Kohli, said in a statement after meeting the Malawian President, Mr Joyce Banda.
The Airtel Money platform would allow consumers to send and receive money, directly pay utility bills, provide access to their bank accounts and top up their phones with air time.
“Airtel is committed to ensure Airtel Money services are within arm’s reach of the Malawian people,” Mr Kohli, who heads the African operations of the company, said.
Mr Kohli said a 3G network would contribute significantly towards meeting the growing demand for high speed Internet and wireless entertainment for large corporates, small and medium businesses and the youth in Malawi.
The company will also invest $10 million in green energy in Malawi by the end of the current financial year, the statement added.
The telecom major has over 53.1 million customers across 17 African countries.
For the quarter ended March 31, 2012, Airtel Africa recorded a loss of Rs 340.6 crore, while revenues stood at Rs 5,387.4 crore during the period.