Airtel Africa Agrees on $125 Mln Loan to Support Operations, Investments

By Anthony O. Goriainoff


Airtel Africa PLC said Wednesday that it has signed a $125 million revolving credit facility with Citi, and that it will use the funds to support operations and investments at four of its subsidiaries.

The Africa-focused telecom and mobile money-services provider said the facility was in line with its strategy to raise debt in its local operating companies, and that it has a tenor up to September 2024.

“The facility provides potential interest rate savings in exchange for achieving social impact milestones relating to digital inclusion and gender diversity, with a focus on rural areas and women,” the company said.


Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com


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