Airtel Africa PLC New IFC loan facility (7267I)
December 06 2022 - 2:02AM
UK Regulatory
TIDMAAF
RNS Number : 7267I
Airtel Africa PLC
06 December 2022
Airtel Africa plc
('Airtel Africa', or the 'Group')
New IFC loan facility
IFC and Airtel Africa Partner to Connect Millions of People
Across Africa
London and Lagos, 6 December 2022: Airtel Africa, a leading
provider of telecommunications and mobile money services, with a
presence in 14 countries across Africa, today announces the signing
of a new $194m facility with International Finance Corporation
('IFC'), a sister organisation of the World Bank and a member 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 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, providing a more diversified access to local funding.
As part of IFC's loan facility, Airtel Africa has committed to
comply with the applicable requirements of IFC Performance
Standards on Social and Environmental Sustainability and has put in
place a dedicated Environmental and Social Action plan. This will
further underpin the Group's commitment to transforming lives
across the communities in which Airtel operates and provide clarity
on how the Group can help address inequality and support economic
growth in these communities.
Airtel Africa's sustainability strategy was launched in October
2021, and set out the Group's ambitious sustainability targets and
long-term goals. It is supported by a framework of four
sustainability pillars: Our Business, Our People, Our Community,
and Our Environment. The Group's sustainability targets are aligned
to the United Nations Sustainable Development goals and are
designed to deliver a real and positive impact. Airtel Africa's
inaugural Sustainability Report was published in October 2022,
detailing the Group's performance to date and the progress being
made towards achieving the set targets and goals.
Segun Ogunsanya, chief executive officer, said:
"I am very excited to announce the signing of this new facility
with IFC. Not only does it align with our focus on improving our
balance sheet through localising debt within our OpCos, but as we
make progress on our sustainability journey it also supports our
commitments and ability to meet strong ESG criteria. I look forward
to working closely with IFC in the coming years as we explore
further opportunities to support the economies and communities
where we operate."
Sérgio Pimenta, IFC Vice President for Africa, said:
"The COVID-19 pandemic has made mobile connectivity even more
urgent for both social and economic development. Helping more
people connect to affordable and fast internet networks is a
priority for IFC in Africa, especially in the continent's
lower-income countries. The partnership with Airtel Africa will
help achieve this."
IFC's loan is supported by co-financing from institutional
investors through IFC's Managed Co-Lending Portfolio Program
(MCPP). IFC's loan in Zambia is supported by the Local Currency
Facility
of the International Development Association's (IDA) Private
Sector Window.
IFC's digital strategy in Africa is aimed at enabling
ubiquitous, reliable, and affordable connectivity
-ENDS-
Enquiries
Airtel Africa - Investor Relations
Pier Falcione +44 7446 858 280
Alastair Jones +44 7464 830 011
Investor.relations@africa.airtel.com +44 207 493 9315
Hudson Sandler
Nick Lyon
Emily Dillon
airtelafrica@hudsonsandler.com +44 207 796 4133
About Airtel Africa
Airtel Africa is a leading provider of telecommunications and
mobile money services, with a presence in 14 countries in Africa,
primarily in East Africa and Central and West Africa.
Airtel Africa 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.
The Group aims to continue providing a simple and intuitive
customer experience through streamlined customer journeys.
www.airtel.africa
About IFC
IFC-a member of the World Bank Group-is the largest global
development institution focused on the private sector in emerging
markets. We work in more than 100 countries, using our capital,
expertise, and influence to create markets and opportunities in
developing countries. In fiscal year 2021, IFC committed a record
$31.5 billion to private companies and financial institutions in
developing countries, leveraging the power of the private sector to
end extreme poverty and boost shared prosperity as economies
grapple with the impacts of the COVID-19 pandemic. For more
information, visit www.ifc.org .
Stay Connected
www.facebook.com/IFCwbg
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www.youtube.com/IFCvideocasts
www.ifc.org/SocialMediaIndex
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www.ifc.org/infrastructure
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