Telecom infrastructure major Indus Towers on Tuesday said it has received the board approval to foray into the African market.
Entry in to African market will mark the first-ever overseas expansion of Indus Towers.
"The Board of Directors, at a meeting held earlier in the day, reviewed and deliberated on strategic opportunities to expand the company's footprint across select international markets," the company said in a statement.
The company has received approval to foray in African markets, beginning with Nigeria, Uganda, and Zambia as these markets offer attractive prospects for revenue diversification, operational scalability, and long-term value creation, the statement said.
"Indus will leverage its robust financial position and anchor customer relationship with Bharti Airtel to establish a strong and competitive presence in these regions. As part of its broader growth strategy, the company will continue to evaluate expansion opportunities in other African markets where Airtel has an established presence," the statement said.
The company said that the strategic direction complements the government's broader vision of encouraging Indian enterprises to expand globally and evolve into multinational entities.
"The Board's approval to enter international markets in Africa unlocks our vision for long-term sustainable growth and value creation for our shareholders. By leveraging our expertise in delivering innovative and cost-effective solutions, we are well-positioned to differentiate ourselves in Africa's fast-growing telecom market," Indus Towers Managing Director and CEO Prachur Sah said.
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