AFRICA

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• Egypt's first smartphone maker plans expansion in Africa

  Egypt's first smartphone maker is looking to enter the broader African market by the end of 2018 or early 2019 as it seeks to boost exports, its sales director said.

  

• Airtel's Africa business valued at $6.6 billion

  Bank of America-Merrill Lynch values "Bharti's Africa business at six times Ebitda (read: operating income), leading to an estimated enterprise valuation of $6.6 billion by FY19".

  

• Airtel to keep 4,000 Telenor, Tata Tele staff post merger

  The Sunil Mittal-owned market leader may post about 15% of the employees from the two telcos overseas, mainly in Africa.

  

• We should have not taken decision to venture into Africa: Sunil Mittal

  Mittal said that the 'bit rushed' decision to venture into African market has taken 6 to 8 years and lot of resources and his personal time to fix.

  

• Exiting Kenya, Rwanda, Tanzania to help Airtel boost margins: Analysts

  If Airtel’s stated interest in buying 9mobile translates in a deal, it would become the largest telco by subscribers in a market that is Bharti’s largest in Africa.

  

• Bharti Airtel Q2 net profit slumped nearly 77% on year as price war bites

  The Sunil Mittal-led telco's consolidated revenues declined 10.4% on a yearly basis at Rs 21,777 crore.

  

• Airtel, Millicom announce deal closure to combine operations in Ghana

  The merged entity will become Ghana’s second largest mobile operator with close to 10 million subscribers

  

• MobiKwik eyes raising USD 100 million in funding this year

  Mobile wallet company MobiKwik is looking at raising over USD 100 million from investors this year to fuel its expansion.

  

• SoftBank inducts India-born Rajeev Misra in its board of directors

  The appointment is subject to the approval of the 37th Annual General Meeting of the Japanese conglomerate to be held on June 21, 2017.

  

• Jio woes: Airtel revenue to drop another 2-5% in FY18, says S&P

  Competition with Jio is likely to continue to dent their revenue growth and profitability until fiscal 2019," the report said.

  

• Bharti Airtel shows profit in Africa, thanks to data consumption growth

  Bharti Airtel reported a profit of $6 million Africa for the fourth from a loss of $57 million a year ago