Airtel Africa signs new $194m bank facility

Telecoms and mobile money services provider Airtel Africa said it had signed 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 eight-year facility is in line with Airtel's Africa strategy to increase debt within its operating companies, the company said on Tuesday.

It 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.

Reporting by Frank Prenesti for Sharecast.com