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Essar pumps $2bn into African telecoms

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Shashi Ruia, Essar Group Chairman
Indian steel group Essar plans to invest $2 billion in up to six or seven African mobile businesses.

According to globaltelecombusiness.com, Essar, the minority shareholder in Vodafone Essar, one of the largest operators in India, wants to expand its telecom operations in emerging markets, by implementing pan-African mobile operations in several African countries and targeting more than 20 million customers more within six or seven countries.

Essar owns 33% of Vodafone’s Indian operation and a 49% stake in Econet Wireless, through Essar Communication Holdings.

Econet Wireless has already set up Yu network in partnership with Essar, covering a million subscribers in Kenya.

Essar also owns a majority stake in Dhabi Group’s Warid Telecom operations in Uganda and Congo.

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