Airtel Africa and Citi to provide revolving credit facility

Airtel Africa, a provider of telecommunications and mobile money services, with a presence in 14 countries across Africa, has announced the signing of a US$125mn revolving credit facility with Citi through its branch offices/subsidiaries in sub-Saharan Africa

The provider announced the signing of a US$125mn with Citi through its subsidiaries in sub-Saharan Africa. (Image Source: Shutterstock)

The facility is in line with the company’s strategy to raise debt in their local operating companies, and will include both local currency and US dollar denominated debt. It 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 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, and aligning with the group’s sustainability strategy, launched in October 2021. It further strengthens the group’s commitment to transforming lives across the communities in which they operate.