(Ecofin Agency) - A new investment is announced in the East African telecommunications sector. The International Finance Corporation is granting a $15 million credit line to Telco SA, a telecom operator based in Comoros. The interest rate and the maturity period of that loan have not been disclosed.

This first investment of the IFC in Comoros will help Telco strengthen its mobile communication and internet connection infrastructures in the country. “IFC financing will allow us to compete by offering better services to industries that depend on reliable communications, including financial technology,” Stéphane Teyssedre, CEO of Telco SA, commented.

In the past three years, the IFC has invested $1.5 billion in IT and telecom firms around the world, according to figures published by the institution.

Chamberline Moko