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Airtel Africa has signed a $125 million revolving credit facility with Citi through its branch offices and subsidiaries in sub-Saharan Africa, the telecommunications and mobile money giant, announced this week.
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The facility is in line with its strategy to raise debt in its local operating companies and will include both local currency and US dollar-denominated debt, Airtel Africa added. The company has operational presence in 14 countries across Africa.
“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,” the company said in an official statement filed with the Nigerian Exchange Limited.
The statement added: “Our sustainability strategy has four focused pillars—each with specific and measurable goals or commitments. It is designed to reduce as well as mitigate our impact on the environment and to support communities through digital access.
“We believe that this will help to develop a sustainable future for individuals, families, communities and businesses across Africa,” CEO of Airtel Africa, Olusegun Ogunsanya, said in the launch document.
Also, in the disclosure titled, ‘Airtel Africa’s First Sustainability-Linked Loan Facility,’ signed by Group Company Secretary, Simon O’Hara, Airtel said the “facility is in line with the company’s strategy to raise debt in our local operating companies and will include both local currency and US dollar-denominated debt.”
