“The proposed funding will support Airtel Africa operations in the Democratic Republic of Congo, Rwanda, and Kenya to cover capital expenditure (CAPEX) needs and refinance USD-denominated debt,” the IFC said in a disclosure. This will be IFC’s second investment in Airtel Africa after a previous financing in 2022. The $150 million (Sh20.24 billion) IFC investment in Airtel Africa aimed to support the telco’s capital expenditure requirements for two years in seven of its 14 operating companies, namely Chad, DRC, Kenya, Madagascar, Niger, Congo, and Zambia. Airtel Africa has integrated mobile network operations in 14 countries in sub-Saharan Africa, including mobile voice and data services as well as mobile money services. Bharti Airtel Limited, an Indian telco with operations in 17 countries, is a majority shareholder with a 56 percent shareholding in Airtel Africa.

Source: Daily Nation May 03, 2024 05:00 UTC