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Kenya's Airtel Kenya declared technically insolvent

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Kenya's telecoms service provider Airtel has ended the 2016 financial year with a $437 million debt. A financial report indicates the company is technically insolvent. Liabilites worth 437 million dollars are weighing heavily against assets worth about 94 million dollars. Airtel had just under seven million subscribers in Kenya at the end of the first quarter of this year. It is the country's second-largest telecoms operator, trailing Safaricom. Airtel directors claim the company's survival is hinged on meeting target subscriber numbers and revenue.Subscribe to us on YouTube: http://ow.ly/Zvqj30aIsgY Follow us on:Facebook: https://www.facebook.com/cgtnafrica/ Twitter: https://twitter.com/cgtnafrica

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Africa News CGTN Africa Kenya telecoms Airtel debt Safaricom
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