Airtel Africa planning to sell 4,500 towers to reduce its $3.5 bn debt

Airtel has a repayment of 750 million euros ($890 million) due in May, while an installment of $505 million is due in March 2023, according to the annual report

Airtel Africa Plc plans to sell about 4,500 telecommunication towers across five countries including Tanzania and Madagascar to help reduce $3.5 billion of debt and prepare for looming bond repayments.

Africa’s second-largest carrier by subscribers is also disposing of cellular masts in Gabon, Malawi and Chad, Chief Executive Officer Raghunath Mandava said in an interview. “We are constantly seeking to bring down our debt, and we prefer to bring it down even faster with the tower deals,” he said.

Airtel has a repayment of 750 million euros ($890 million) due in May, while an installment of $505 million is due