The board of directors for Indus Towers Limited, an Indian provider of telecoms infrastructure, has approved the company’s foray into African markets, as part of its international expansion plans.
According to the firm in a statement on Tuesday, the markets it will initially focus on are Nigeria, Uganda, and Zambia, as these markets offer attractive long-term prospects for revenue diversification and operational scalability.
The company, which is a subsidiary of Bharti Airtel, will leverage its relationship with its parent company to establish a presence in these regions.
As part of its broader growth strategy, Indus Towers will also evaluate expansion opportunities in other African markets where Airtel has presence. Including Nigeria, Uganda and Zambia, the mobile operator has a footprint across 14 countries.
Prachur Sah, managing director and CEO of Indus Towers commented: “The board’s approval to enter international markets in Africa unlocks our vision for long-term sustainable growth and value creation for our shareholders. 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.”
The company added that the strategy is subject to necessary approvals and compliance with applicable laws and regulatory requirements.
The international expansion complements the government of India’s broader vision of encouraging Indian enterprises to expand globally and evolve into multinational entities, noted the infrastructure provider.
The company’s telecoms towers portfolio stands at 251 773, making it one of the largest tower infrastructure providers in India.
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