
Elon Musk's SpaceX, Airtel Africa partner to expand rural connectivity
SpaceX and Airtel Africa team up to roll out Starlink’s low-latency internet, aiming to bridge rural Africa’s digital divide with satellite connectivity.
SpaceX and Airtel Africa team up to roll out Starlink’s low-latency internet, aiming to bridge rural Africa’s digital divide with satellite connectivity.
He warned that granting MTN additional spectrum could distort the market, reduce competition, and ultimately raise costs for consumers.
The collaboration aims to revolutionize last-mile delivery of financial services by leveraging their combined scale and distribution reach.
This initiative follows a similar $100 million buyback completed in March 2024, further underscoring Airtel Africa’s commitment to capital reduction and rewarding shareholders.
Telecom giant aims to stabilize costs and enhance sustainability in key African markets.
According to a recent statement by Airtel Africa, the share buyback program will commence immediately, spanning a duration of up to 12 months.
The compensation package represents a 73.36-percent surge from the previous year’s total reward of $1.4 million.
Mittal, the chairman of Bharti Airtel, has cemented his position as one of the world’s wealthiest individuals, with a net worth of $15.4 billion.
Airtel Uganda, which is a subsidiary of Bharti Airtel controlled by Mittal, has 14.3 million active subscribers across 146 districts in Uganda.
Mittal owns an indirect 3.38-percent stake in the telecom giant.
The deal is valued at $55 million.
In comparison to the previous year’s figures, the telecom company’s profit increased by 97.3 percent.
Both MTN Nigeria and Airtel Africa have received approval-in-principle for a service bank license.
Airtel Africa is a leading telecom and mobile money services provider in Africa, with a presence in 14 countries.