Companies Airtel Kenya surviving on hefty shareholder loansAn Airtel shop in Nyeri town in this picture taken on February 22, 2021. FILE PHOTO | NMGBy CHARLES MWANIKIMore by this Author Summary Kenya’s second-biggest telco has revealed that the shareholder loans from its holding firm Bharti Airtel Kenya BV shot up to Sh52.2 billion in the year ended December 2020. Airtel Kenya is surviving on a series of shareholder loans from its parent company most of which it is unable to service, its financial filings show. A commitment to this effect from the major shareholders has been obtained by the company," said Airtel. These dollar-denominated loans from Bharti Airtel Kenya BV are supposed to be payable on demand, and are unsecured, carrying an interest charge of three percent per annum.

Source: The North Africa Journal January 10, 2022 06:55 UTC