15 December 2022

Bharti Airtel Limited reported that its Kenyan subsidiary Airtel Networks Kenya recorded a post-tax loss of US$18.3 million at the end of the 2021/2022 financial year. These numbers are down from the US$$22.3 million lost by the company in the 2020/2021 financial year.

The loss has been attributed due to operating costs which reached US$30 million during the financial year under review. Additionally, Airtel Kenya relies heavily on loans for its investments in the Kenyan telecom market where the company is struggling to break even.

Airtel Kenya’s total assets at the end of the financial year 2021/2022 were worth US$950.9 million against debts of US$1.1 billion. The previous year, the company’s assets amounted to US$1 billion for debts of US$1.3 billion.

Airtel Africa Plc, the intermediate parent company of Airtel Kenya, claims to be confident in its prospects and continues to invest heavily in the company. The company notably paid US$5 million to the regulator in partial payment for an operating license for the period 2015-2025. It has also invested several million dollars for the acquisition of additional telecom capacities.