AFRICA—The International Finance Corporation (IFC) has invested US$165 million in Airtel Africa to strengthen its operations and refinance existing loans in key markets, including Kenya, Rwanda, and the Democratic Republic of Congo (DRC).
The investment will be directed towards modernizing Airtel’s telecommunications infrastructure, focusing on enhancing its 4G capabilities.
This includes purchasing essential equipment such as antennas, software updates, packet cores, and base transceiver stations, ensuring that Airtel can offer improved connectivity and faster data speeds to its customers.
Additionally, the funding will support the acquisition and development of fiber capacity, further bolstering Airtel’s network backbone and providing the foundation for reliable, high-speed internet services.
“This investment marks another significant milestone in our journey to enhance connectivity and digital inclusion across the continent,” said Mr. Segun Ogunsanya, CEO of Airtel Africa.
“We are delighted to once again partner with IFC, whose deep knowledge and expertise in the telecom sector will contribute to our ongoing efforts to bridge the digital divide in Africa.”
The IFC’s investment in Airtel Africa is a testament to the company’s solid fundamentals and growth potential. It follows a previous round of financing from IFC in 2022, which provided capital expenditure support in seven of Airtel’s operating countries.
With a presence in 14 countries across Africa, Airtel has consistently invested in its network infrastructure and expanded its offerings to cater to the evolving needs of its diverse customer base.
In Kenya, Airtel Kenya has been focusing on its voice and mobile money services, ensuring reliable connectivity and financial inclusion for its subscribers.
Furthermore, the company has also been at the forefront of 5G technology, having deployed several 5G sites in Nigeria, Kenya, Zambia, and Tanzania, positioning itself as a leader in delivering next-generation connectivity in the region.
“We are committed to providing our customers with world-class telecom services, and this investment will enable us to continue delivering innovative and affordable solutions that positively impact their lives,” added Mr. Ogunsanya.
Beyond its core telecommunications offerings, Airtel has also set its sights on expanding its data center infrastructure with plans to establish a data center in Nairobi and mobile cable landing stations in Tanzania, DRC, and Gabon.
This latest investment from IFC underscores the potential for growth in Africa’s telecommunications sector and reinforces Airtel’s commitment to driving digital transformation and empowering individuals and businesses across the continent.
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