By Anthony O. Goriainoff
Airtel Africa PLC said Wednesday that it has signed a $125 million revolving credit facility with Citi, and that it will use the funds to support operations and investments at four of its subsidiaries.
The Africa-focused telecom and mobile money-services provider said the facility was in line with its strategy to raise debt in its local operating companies, and that it has a tenor up to September 2024.
“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,” the company said.
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