Indus Towers' revenues hinge more on Vi turnaround than Africa plan

Indus Towers eyes Africa entry but analysts remain split on growth outlook as Vodafone Idea's turnaround and high capex weigh on sentiment

On September 2, Indus Towers’ board of directors approved a foray into Africa, beginning with Nigeria, Uganda and Zambia. The telecommunication infrastructure firm will also look for opportunities in other African markets. 

 

Even as the Bharti Group owns a little over 50 per cent stake in Indus Towers, its revenue growth hinges on Vodafone Idea’s turnaround. 

 

Airtel Africa has 37,579 towers, of which 2,157 are owned by parent Bharti Airtel. The three countries mentioned above account for less than 500 of Airtel Africa’s towers. The Africa plan is not significant in the short-term. The continent has suffered currency depreciation and