WED, 10 AUG, 2022-theGBJournal| Airtel Africa today announced the signing of a $125m revolving credit facility with Citi through its branch offices/subsidiaries in sub-Saharan Africa.
Aitel, a leading provider of telecommunications and mobile money services, with a presence in 14 countries across Africa, said the facility is in line with its strategy to raise debt in their local operating companies that includes both local currency and US dollar denominated debt.
‘’The facility has a tenor up to September 2024 and will be used to support Airtel Africa’s operations and investments in four of its subsidiaries,’’ Airtel said.
Airtel management in a statement said, 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, and aligning with the Group’s sustainability strategy launched in October 2021.
‘’The facility further strengthens the Group’s commitment to transforming lives across the communities in which we operate.’’
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