The International Finance Corporation (IFC) will provide a KSh 9.054 billion (US$70 million) loan to Airtel Kenya, as part of a broader US$100 million financing package for Airtel Africa’s East African operations.
- •The funds will support network expansion, infrastructure upgrades, and debt refinancing as the telecom operator seeks to strengthen its position in the competitive Kenyan market.
- •Airtel Kenya, the country’s second-largest telecom provider, operates under an asset-light model, leasing tower infrastructure from independent providers instead of owning its own sites.
- •Airtel Rwanda will receive the remaining US$30 million to support the country’s push for greater digital connectivity, as mobile and internet penetration continue to rise.
While Airtel Kenya’s asset-light strategy allows the company to focus on expanding coverage while reducing capital expenditure on physical assets, it has weakened its geographical network and suppressed its ability to compete with Safaricom—which retains a dominant market share.
Previous IFC investments in Airtel Africa have focused on network modernization and digital financial inclusion, including the growth of Airtel Money. The financing comes amid a lasting battle for market share in Kenya’s telecom sector, where Safaricom dominates both voice and data services.
Airtel Kenya has been aggressively expanding its network coverage, deploying advanced technologies to improve service quality and attract more subscribers. According to the latest data from the Communications Authority of Kenya (CA), Airtel’s market share hit 30.15%, a steady increase from previous periods.
The company also continues to grow its mobile money segment, competing against Safaricom’s M-Pesa. In December last year, Airtel Money subscribers grew to 8.9% of the market share due to aggressive marketing strategies.
