Airtel Africa began discussions with the IFC in April 2024. The company had previously received $194 million from the financial institution in December 2022 for six of its 14 subsidiaries in Sub-Saharan Africa.
Airtel Africa has secured a new loan of $200 million from the International Finance Corporation (IFC), the lender announced Thursday.
The money will be invested in three of Airtel Africa's East African subsidiaries: the Democratic Republic of Congo (DRC), Rwanda, and Kenya. It will support the expansion and modernization of the network and upgrade distribution infrastructure, with a special focus on rural areas. Mary Porter Peschka, the IFC’s Regional Director for East Africa, said, “Better connectivity means more opportunity. Our work with Airtel will help millions more people not only to come online but also gain access to high-speed networks so that they can better leverage the digital economy opportunities.”
Airtel Africa began discussions with the IFC in May 2024. This new funding follows a previous investment of $194 million from the IFC in December 2022, which supported operations in the DRC, Kenya, Madagascar, Niger, Congo, and Zambia. This initiative is part of Airtel Africa's growth strategy amid increased competition in the African telecom market.
The new investments are expected to provide high-speed mobile connectivity to more than 37 million subscribers. They will also help Airtel Africa attract new customers in Rwanda, the DRC, and Kenya. For example, the DRC has a mobile penetration rate of 45% among its 102 million people, while Kenya has 67% mobile service usage among its 55 million residents.
• Maritime sector faces renewed risks amid military tensions in the Middle East• Blockade fears at S...
This launch is a significant milestone that highlights Rwanda's ongoing digital transformation. With...
Egypt signs deals to import up to 290 LNG cargoes over 30 months, starting in July Trafigura,...
• WAEMU’s inflation dropped from 2.2% in March to 1.5% in April 2025• BCEAO attributes the decline t...
Government unveils plan to boost cybersecurity after attacks on public platforms Measures inc...
• Angola and Namibia to connect Lubango to Santa Clara via 275 km railway• Project to be developed under a public-private partnership model• Initiative...
• Egypt to build 1.1 GW solar plant with 200 MWh battery storage in Nagaa Hammadi• $479.1 million in international funding led by BII, AfDB, and...
• Nigeria targets rise in oil production from 1.6 to 3 million barrels per day by 2030• WoodMac highlights collaboration, regulatory streamlining, and...
• Algeria to launch 40 new digital specialties in vocational training from next academic year• Plan aligns with national goal to train 500,000 ICT...
Tucked away in northeastern Chad, deep in the heart of the Sahara Desert, the Ennedi Massif stands as an extraordinary natural and cultural marvel. This...
Kakum National Park is a protected area located in Ghana’s Central Region, near the city of Cape Coast. Established as a forest reserve in 1931 and...