Airtel Africa and IFC sign $194 million loan facility

Airtel Africa and the International Finance Corporation (IFC) have signed a new $194 million loan facility. IFC will provide six of Airtel Africa’s subsidiaries with local currency loans of around $194 million. The new financing facility is in line with Airtel’s Africa strategy to increase debt within its operating companies. The financing facility has a tenor of eight years and will be used to support Airtel Africa’s operations and investments in Democratic Republic of Congo, Kenya, Madagascar, Niger, Republic of Congo and Zambia, where the banking landscape and access to local funding remains largely underdeveloped.