Essar Telecom Kenya, which offers mobile services under the ‘yu’ brand, has reportedly received a KES13.05 billion (USD146.5 million) capital injection from its parent company, Indian conglomerate Essar Group to pay its bank loans. Kenyan website The Star quotes CEO Madhur Taneja, who commented: ‘We have paid off all our debts for the existing business. That is the biggest burden for any telecom operator. We do not have any debt at all, it is all equity … The telecom business is extremely capital intensive’. yu is now expecting to receive a KES8.7 billion tranche of funding in March for capital expenditure.
Subscribe to CommsUpdate to get the day’s top telecom headlines delivered to your email.
Browse Past Issues
Filter CommsUpdate by the following categories or use the search.
Visit our help page information on performing advanced searches, including how to restrict the results by country or company.
CommsUpdate is an outstanding advertising venue for companies seeking to reach:
- International carriers
- Wholesale service providers
- Equipment and software vendors
- Telecom investors