Airtel Africa is reeling under a $3.12 billion debt that is impacting its capacity to fund its operations in 14 countries across the continent, as competition increases across the telecommunications landscape.
The telco, which is listed on the London Stock Exchange, revealed in its unaudited financial statements for the six months to September 30 that a significant amount of cash that it generates from trading activities, including proceeds from sale of assets and fresh capital injection from equity investors, goes towards repaying the debt.
