Bharti Airtel, which last year bought mobile phone operations in 15 African countries, is on target to generate $5 billion (Rs 22,000 crore) in revenue from the continent and reach 100 million subscribers there by the end of March 2013 said Manoj Kholi, the CEO of International operations.
Bharti paid $9 billion (Rs 40,000 cr) for most of Kuwait-based Zain's African cellular operations, which generated about
$2.9 billion (Rs 13,200 crore) in revenues in the year that ended March 31 2010 and had 44.2 million subscribers.
The loss-making operations have been a drag on Bharti's consolidated earnings. But Kohli expects Africa margins to improve in coming quarters as they are replicating the low cost high volume model of India in Africa