With operations in 14 different African nations, Airtel Africa is one of the biggest telecom companies on the continent. Today, the company announced the signing of a $125 million revolving credit facility with Citi through its sub-Saharan African branch offices and subsidiaries.
The telecom claims that this facility, which will comprise both local currency debt and debt denominated in US dollars, is consistent with its goal to raise debt in its local operating firms. The facility, which runs till September 2024, will be used to support Airtel Africa’s operations and investments in four of its subsidiaries.
Airtel explains that the facility offers possible interest rate reductions in exchange for fulfilling social impact goals related to digital inclusion and gender diversity, with an emphasis on rural areas and women, in compliance with the Group’s sustainability strategy, released in October 2021.
Airtel Kenya Purchases Additional Spectrum for $40 Million
Airtel Kenya, in a statement last month, has paid the Communications Authority of Kenya the estimated sum of $40 million to acquire 60 MHz of extra spectrum in the 2600 MHz band. The spectrum license is expected to last for 15 years starting in July 2022.
“This additional spectrum will support our 4G network capacity expansion in the market for both mobile data and fixed wireless home broadband capability, and will allow for future 5G rollout, providing significant capacity to accommodate our continued strong data growth in the country,” said the company in the statement.
According to revenue, one of Airtel’s major markets is Kenya. The business claims that this new investment demonstrates its sustained faith in the Kenyan market’s potential and its desire to continue assisting local people and economies by promoting digital inclusivity and connection.
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