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Airtel Africa PLC on Tuesday said it signed a new facility with International Finance Corp, a sister organisation of the World Bank and a member of the World Bank Group.
The $194 million facility will last eight years and will support the Africa-focused telecommunications firm’s operations in Democratic Republic of Congo, Kenya, Madagascar, Niger, Republic of Congo and Zambia, ‘providing a more diversified access to local funding’.
IFC Vice President Sergio Pimenta said: ‘The Covid-19 pandemic has made mobile connectivity even more urgent for both social and economic development. Helping more people connect to affordable and fast internet networks is a priority for IFC in Africa, especially in the continent’s lower-income countries. The partnership with Airtel Africa will help achieve this.’
Airtel Africa shares were 1.2% lower at 120.98 pence each on Tuesday morning in London.
By Tom Budszus, Alliance News reporter
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