Airtel Africa Tuesday entered pact with Washington-based International Finance Corporation (IFC) to obtain $194 million credit to strengthen operations in six of its 14 African markets. IFC is a unit of the World Bank Group.
“The new financing facility is in line with Airtel’s Africa strategy to increase debt within its operating companies,” the telecom firm said in a Tuesday statement posted on the Nigerian Exchange website.
Airtel Africa, Nigeria’s biggest company by market value, in July settled senior notes of $450 million ahead of due May 2024 due date, cutting debt to $550 million as of September.
