IFC approves USD39m Africell loan

17 Apr 2015

The International Finance Corporation (IFC), a unit of the World Bank, has issued a senior loan worth USD39 million to Lebanon-based Africell Group, which offers mobile services in several African countries. The IFC’s investment represents around a quarter of the USD165 million that Africell seeks to raise, while the proceeds of this financing will go towards refinancing Africell’s loans and credit lines into one facility, as well as supporting the company’s CAPEX programme.

TeleGeography notes that Africell Group is currently operational in Sierra Leone, Gambia, Uganda and the Democratic Republic of Congo (DRC), but plans to launch in two new markets – ‘whether by acquisition or through a greenfield approach’ – by 2018.

Gambia, Sierra Leone, Uganda, Congo, Dem. Rep.,Lintel Holding (Africell Holding),


Subscribe to CommsUpdate to get the day’s top telecom headlines delivered to your email.

Subscribe to CommsUpdate


Have feedback, corrections, or story ideas? Send them to editors@commsupdate.com.

Browse Past Issues


Filter CommsUpdate by the following categories or use the search.


Visit our help page information on performing advanced searches, including how to restrict the results by country or company.


CommsUpdate is an outstanding advertising venue for companies seeking to reach:

  • International carriers
  • Wholesale service providers
  • Equipment and software vendors
  • Telecom investors
  • Regulators

Learn more about advertising on CommsUpdate.