BHARTI AIRTEL COMMITS TO TANZANIA AS IT EXITS TANZANIA TELECOMMUNICATIONS COMPANY LIMITED (TTCL)

Treasury Registrar, Mr Lawrence Mafuru (left) and Bharti Airtel Africa CEO, Christian De Faria signing an agreement to exit its shareholding in Tanzania Telecommunications Company Limited (TTCL) where it held 35% Equity together with the Government of Tanzania holding 65%. Looking on center is the Deputy Permanent Secretary Ministry of Construction Work and Communication Dr. Maria Sasabo, and other government officials. The Signing ceremony took place today at TTCL Head Office, Samora Avenue, Dar es Salaam.

Treasury Registrar, Mr Lawrence Mafuru (left) displays Bharti Airtel shareholding certificate soon after Bharti Airtel Africa CEO, Christian De Faria (right) signed an agreement to exit its shareholding in Tanzania Telecommunications Company Limited (TTCL) where Bharti Airtel held 35%.

Airtel Africa team with Tanzania Government delegates soon after signing an agreement for Bharti Airtel to exit its 35% shareholding in Tanzania Telecommunications Company Limited (TTCL ). The Government of Tanzania will now own 100% equity.

Dar es salaam, 24th June, 2016: Airtel Tanzania (Airtel) announced that it has signed an agreement with Tanzania Telecommunications Company Limited (TTCL) to complete the sale of its 35% shareholding in the fixed line business to the Government of Tanzania.

Airtel Africa’s Executive Chairman, Christian de Faria said, “The completion of the sale of Bharti Airtel’s shareholding in TTCL to the Government marks the end of a long and mutually beneficial journey in fixed line telecommunications. Airtel remains committed to Tanzania as it continues its strategic partnership with the Government through the mobile business – Airtel Tanzania, and will continue to invest to grow the business further.”