Airtel Africa Proposes IFC to Help Raise $194 Million for Network Investments

Airtel Africa has announced that they have requested world bank’s international finance corporation, $194 Million through debt.

Airtel Africa has requested the World Bank’s International Finance Corporation to help them raise US$ 194 Million for a series of network investments across its seven subsidiaries.

“(it) will support the project with a debt package of up US$150 million from its own amount and up to US$44 million in mobilisation from MCPP (Managed Co-Lending Portfolio Programme) funds.

There is now an improvement in customer growth trends across its operations with Nigeria returning to strong customer growth after a period affected by the implementation of ’know-your-customer’ requirements.”

Statement by IFC

“We will continue to invest in expanding and evolving our platform to further deepen both financial and digital inclusion across Africa. I continue to see huge potential across voice, data and mobile money and our strategy is delivering against these opportunities.”

Segun Ogunsanya, CEO, Airtel Africa

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