As part of its efforts to expand its mobile-money operation across the continent, Airtel Africa Plc expects to increase its capital expenditure this year to as much as $750 million.
According to Chief Executive Officer Segun Ogunsanya, the wireless carrier intends to further develop its technological foundation and distribution network in an interview from Nairobi, the city of Kenya. According to its annual report, the company, whose board is presided over by billionaire Sunil Mittal, chairman of Bharti Airtel, would be increasing capital expenditure from $656 million in the year through March.
“We are in a very good position to really now take advantage of the cashless policy of the government in driving the penetration of a digital model,” Ogunsanya said. “We’ve got a lot more phones than debit cards, we’re really planning to automate this opportunity and use this policy to drive differentiation of money in our customer base.”