Friday
July 26
2019

Africell to Spend $100M on Mobile Infrastructure, Fintech in Africa

By Elias Biryabarema

African telecom firm Africell plans to spend part of a $100 million U.S. credit line on expanding its infrastructure and fintech services, its chief executive said on Friday.

The 18-year-old company, which has 15 million subscribers across its four African operations, secured the loan in May from the Overseas Private Investment Corporation (OPIC), the U.S. government’s private investment fund.

Photo courtesy of Simon Berry.

Source: Reuters (link opens in a new window)

Categories
Finance, Investing
Tags
development finance, emerging markets, fintech, OPIC, telecommunications