TechAfrica News

by Editorial Team

Smile Telecoms’ Restructuring Plan Gets Approved – receives $51m in funding

Smile Telecoms Holdings, a Pan-African telecommunications group, announced that its Restructuring Plan has been approved and agreed with the lenders.

This debt restructuring plan of the telco with operations in Nigeria, Uganda, Tanzania, and the Democratic Republic of the Congo sees an injection in fresh money funding from Smile’s majority shareholder, the Al Nahla, and rescheduling on debt repayment until post-March 2022.

The fresh injection of $51m in funding for Operations will further enhance Smile’s position in its respective markets and energize Smile’s operations and support efforts towards achieving better performance.

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