Airtel invests K324m in 1,300km optic fibre network

Airtel invests K324m in a 1,300 km […]

Airtel invests K324m in a 1,300 km optic fibre network According to information seen by the Zambian Business Times (ZBT), Airtel Zambia is reported to acquire approximately 1.3 thousand kilometres of fibre optic infrastructure assets from related party Artel Telesonic Zambia Limited.

The report further establishes tion was concluded on an arm’s length basis, and independent expert RSM Zambia Chartered that the infrastructure is worth K324.9 million, representing 1.40% of the company’s market capitalisation, which totalled K23.2 billion.

The transaction has been classified as a small related party transaction, valued independently by BDO Zambia Limited. Additionally, company superiors have confirmed that the transacAccountants has confirmed the terms are fair to shareholders.

The acquisition consolidates ownership and management of fibre optic infrastructure critical to the company’s network capacity, quality, and coverage.

Article by Justine Phiri