Airtel Africa, a leading provider of telecommunications and mobile money services, with a presence in 14 countries across Africa, with over 128 million Mobile Communication customers, over 46 million Data customers and over 26 million Airtel Money users across its area of operations and has maintained 17 quarter double digit revenue growth, today announces the signing of a $125m revolving credit facility with Citibank through its branch offices/subsidiaries in sub-Saharan Africa.
This facility, according to a press statement released in Lagos and London respectively and signed by Simon O’Hara, the Group Company Secretary
Is in line with our strategy to raise debt in our local operating companies and will include 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.
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(airtel.africa/assets/pdf/Airtel_Africa_Sustainability_Strategy_211110.pdf). The facility further strengthens the Group’s commitment to transforming lives across the communities in which we operate.