Telecom company Airtel Africa is in talks for a $200 million loan from the International Finance Corporation (IFC), the World Bank's arm focused on financing private sector ventures in emerging markets. The African subsidiary of Bharti Airtel plans to utilize the funds to cover its capital expenditure (CAPEX) requirements and refinance existing debt in the Democratic Republic of Congo (DRC), Rwanda, and Kenya.
In an April 30 statement, the IFC outlined that the CAPEX component will be directed towards modernizing Airtel Africa's telecom network. This includes purchasing active equipment for 4G sites such as antennas, software upgrades, packet core, and base transceiver station. The telecom company will also bolster its fiber optic capacity.
In December 2022, Airtel Africa already secured an initial $194 million financing from the IFC to support its operations in the DRC, Kenya, Madagascar, Niger, and Zambia. This initiative aligns with the telecom group's growth strategy amid heightened competition in the African telecom market. The company also aims to strengthen its balance sheet by consistently reducing group debt and localizing it within operating companies. In its financial results for the third quarter of 2023, the company set May 2024 as the deadline for full repayment of group debt.
As a reminder, Airtel Africa operates in 14 markets with 151.2 million customers as of the third quarter of 2023. In Rwanda, the company boasts 5 million subscribers with a 38.6% market share, compared to its sole competitor MTN's 61.4%, according to the Rwanda Utilities Regulatory Authority. In the DRC, Airtel holds a 29.02% market share against Vodacom (38.92%), Orange (25.64%), and Africell (6.42%), according to telecom regulators. In Kenya, Airtel commands a 29% market share, while its main rival Safaricom holds 65.9%, as per the data from the Communications Authority.
• Maritime sector faces renewed risks amid military tensions in the Middle East• Blockade fears at S...
Lebara Group is now bringing its affordable and reliable mobile services to Africa, starting with Ni...
In a West African financial landscape marked by tighter regulation of the fintech sector, digital fi...
• Google unveils Veo 3, its latest AI tool for ultra-realistic video generation• Experts warn deepfa...
• Gates Foundation commits $1.6 billion over five years to Gavi.• Bill Gates warns of rising ch...
• Burkina Faso-based financial group, Vista Group Holding, has acquired a majority stake in Société Générale Burkina Faso (SGBF).•The move is part of...
• Mali plans to increase its total cotton cultivation area to 672,000 hectares in the 2025/2026 season, marking a 7.8% or 50,000-hectare increase from the...
• Tanzania Railways Corporation inaugurated freight service on the Standard Gauge Railway (SGR) between Dar es Salaam and Dodoma.• The SGR is part of...
• World Bank advocates for green jobs as a strategic solution for Gabon's economy and youth unemployment.• Despite natural wealth, training in sustainable...
In northern Ethiopia, in the Tigray region, lies Axum (also spelled Aksum), an ancient city that once stood at the heart of one of Africa’s most powerful...
Lake Natron, located in northern Tanzania near the Kenyan border, is one of the most extraordinary and extreme lakes in Africa. Fed primarily by the Ewaso...