Airtel Africa, a leading provider of telecommunications and mobile telecommunications has secured a $125 million loan facility from Citibank through its subsidiaries in sub-Saharan Africa.
The company stated that it has signed $125m revolving credit facility with Citi through its subsidiaries in sub-Saharan Africa. This was contained in a disclosure signed by Simon O’Hara, Group Company Secretary titled, “Airtel Africa’s First Sustainability-Linked Loan Facility.”
“This facility 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.
According to the company “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. The facility further strengthens the Group’s commitment to transforming lives across the communities in which we operate.”
Airtel Africa has a presence in 14 countries in Africa, primarily in East Africa and Central and West Africa. It offers an integrated suite of telecommunications solutions to its subscribers, including mobile voice and data services as well as mobile money services both nationally and internationally.