The International Finance Corporation (IFC) is set to invest $165 million (Sh26.99 billion) in Airtel Africa to fund its operations and refinance existing loans across three subsidiaries in Kenya, Rwanda, and the Democratic Republic of the Congo (DRC).
The IFC revealed that it plans to give Sh22.27 billion debt from its own account and mobilise another $35 million (Sh4.72 billion) from its Managed Co-Lending Portfolio Programme (MCPP)—the lender’s syndications platform for institutional investors.
The MCPP creates opportunities for institutional investors and credit insurance companies to invest alongside the IFC on commercial terms in globally diversified loan portfolios.
“The proposed funding will support Airtel Africa operations in the Democratic Republic of Congo, Rwanda, and Kenya to cover capital expenditure (CAPEX) needs and refinance USD-denominated debt,” the IFC said in a disclosure.
“The CAPEX component will be directed towards modernising the telecom network by purchasing active equipment on sites for 4G, such as antennas, software updates, packet cores, base transceiver stations, and the acquisition and/or buildup of fibre capacity,” the World Bank private sector lending arm added.
The funding is subject to approval by the IFC board.
This would be IFC’s second investment in Airtel Africa after a previous disclosure in 2022. The planned $150 million (Sh20.24 billion) IFC investment in Airtel Africa was targeted at supporting the telco’s capital expenditure requirements for two years in seven of its 14 operating companies, namely Chad, DRC, Kenya, Madagascar, Niger, Congo, and Zambia.
The capital expenditure included rolling out new telecom sites, including towers and base stations, upgrading existing sites to support 3G/4G or potentially 5G services, and adding carrier bands and sectors for capacity and network upgrades.
The 2022 planned IFC funding to Airtel Africa also aimed at investment in fibre transmission infrastructure through microwave or fibre connection of sites of the network and investment in IT systems and sales networks.
Airtel Africa has integrated mobile network operations in 14 countries in sub-Saharan Africa, including mobile voice and data services as well as mobile money services. Airtel is a public company limited by shares incorporated in the UK and is listed on the London Stock Exchange and the Nigerian Stock Exchange.
Bharti Airtel Limited, an Indian telco with operations in 17 countries, is a majority shareholder with a 56 percent shareholding in Airtel Africa.
Airtel Africa revealed in February plans to build a data centre in Nairobi, which will become its second such facility on the continent after Nigeria as it moves to diversify its revenue streams. The telco said the Nairobi data centre, which will be usable in telecoms and other sectors, will have a capacity of seven megawatts, much smaller than a 36-megawatt facility it plans to build in Lagos, Nigeria.
Airtel Africa chief executive officer Segun Ogunsanya said in February that beyond the two data centres in Lagos and Nairobi, the telco is also going to have smaller data centres in its mobile cable landing stations including Tanzania, DRC, and Gabon.
In the Kenyan market, Airtel Kenya has stepped up investments in voice and mobile money business. The telco reveals that most of the 5G sites it has deployed are in Nigeria, Kenya, Zambia, and Tanzania.
Editor’s note: The story has been revised to indicate that IFC plans to invest in Airtel Africa as the funding is subject to approval by its board.
Share this news
This Year's Most Read News Stories
ZSSF money not for projects, says Ali Karume
Unguja. Veteran politician and diplomat Ali Karume has called on authorities of the Zanzibar Revolutionary Government (SMZ) to refrain from using the Zanzibar Social Security Fund money for establishing commercial projects.Continue Reading
Tanzania: Exim to Raise Fund for Mental Health Facilities Upgrades
EXIM Bank to raise 300m/- over the next three years for financing essential services and infrastructure upgrades in mental health facilities.
The bank’s Head of Marketing and Communications Stanley Kafu unveiled this when introducing Exim Bima Festival 2024 as a platform for bringing together individuals, organisations and various sectors for raising the funds.
“Exim’s initiative aligns with the government’s broader goals to ensure that every citizen has access to quality healthcare, including mental health services,” he said.
The initiative, which is one of the events for celebrating the bank’s 27th anniversary is scheduled for Wednesday this week in Dar es Salaam.
Mr Kafu highlights that this year’s festival is not only about raising awareness of the importance of insurance in the society but also focuses on enhancing access to mental health services and improving the overall well-being of the nation.
Statistics from the Ministry of Health shows a staggering 82 per cent increase in mental health cases over the past decade.
Mental cases have risen from 386,358 in 2012 to 2,102,726 in 2021, making the need for mental health services more urgent than ever.
ALSO READ: NBC’s Saving Campaign Empowers Customers Nationwide
Unfortunately, the country’s ability to address this growing challenge is hindered by a shortage of mental health professionals, infrastructure, medical equipment and essential medication.
For example, out of the 28 regions in the country, only five have facilities that provide adequate mental health services.
The most affected group is the youth aged 15 to 39, who represent the nation’s workforce, underscoring the need for intensified efforts to safeguard this generation for Tanzania’s future well-being and development.
Mr Kafu said by improving mental health services, Exim aims to contribute to the creation of a network of communities that can access care quickly and affordably.
Exim Insurance Department Manager Tike Mwakyoma said they are appreciating the support from partners in the insurance industry, who have stood by them since the last festival.
“Let’s continue this unity for the development of all Tanzanians and our nation as a whole,” the manager said.
Source: allafrica.com
Tanzania Confirms Outbreak of Marburg Virus Disease
Dodoma — Tanzania today confirmed an outbreak of Marburg virus disease in the northwestern Kagera region after one case tested positive for the virus following investigations and laboratory analysis of suspected cases of the disease.
President of the Republic of Tanzania, Her Excellency Samia Suluhu Hassan, made the announcement during a press briefing alongside World Health Organization (WHO) Director-General, Dr Tedros Adhanom Ghebreyesus, in the country’s administrative capital Dodoma.
“Laboratory tests conducted in Kabaile Mobile Laboratory in Kagera and later confirmed in Dar es Salaam identified one patient as being infected with the Marburg virus. Fortunately, the remaining suspected patients tested negative,” the president said. “We have demonstrated in the past our ability to contain a similar outbreak and are determined to do the same this time around.”
A total of 25 suspected cases have been reported as of 20 January 2025, all of whom have tested negative and are currently under close follow-up, the president said. The cases have been reported in Biharamulo and Muleba districts in Kagera.
“We have resolved to reassure the general public in Tanzania and the international community as a whole of our collective determination to address the global health challenges, including the Marburg virus disease,” said H.E President Hassan.
WHO is supporting Tanzanian health authorities to enhance key outbreak control measures including disease surveillance, testing, treatment, infection prevention and control, case management, as well as increasing public awareness among communities to prevent further spread of the virus.
“WHO, working with its partners, is committed to supporting the government of Tanzania to bring the outbreak under control as soon as possible, and to build a healthier, safer, fairer future for all the people of Tanzania,” said Dr Tedros. “Now is a time for collaboration, and commitment, to protecting the health of all people in Tanzania, and the region, from the risks posed by this disease.”
Marburg virus disease is highly virulent and causes haemorrhagic fever. It belongs to the same family as the virus that causes Ebola virus disease. Illness caused by Marburg virus begins abruptly. Patients present with high fever, severe headache and severe malaise. They may develop severe haemorrhagic symptoms within seven days.
“The declaration by the president and the measures being taken by the government are crucial in addressing the threat of this disease at the local and national levels as well as preventing potential cross-border spread,” said Dr Matshidiso Moeti, WHO Regional Director for Africa. “Our priority is to support the government to rapidly scale up measures to effectively respond to this outbreak and safeguard the health of the population,”
Tanzania previously reported an outbreak of Marburg in March 2023 – the country’s first – in Kagera region, in which a total of nine cases (eight confirmed and one probable) and six deaths were reported, with a case fatality ratio of 67%.
Sign up for free AllAfrica Newsletters
Get the latest in African news delivered straight to your inbox
In the African region, previous outbreaks and sporadic cases have been reported in Angola, the Democratic Republic of the Congo, Ghana, Kenya, Equatorial Guinea, Rwanda, South Africa and Uganda.
Marburg virus is transmitted to people from fruit bats and spreads among humans through direct contact with the bodily fluids of infected people, surfaces and materials. Although several promising candidate medical countermeasures are currently undergoing clinical trials, there is no licensed treatment or vaccine for effective management or prevention of Marburg virus disease. However, early access to treatment and supportive care – rehydration with oral or intravenous fluids – and treatment of specific symptoms, improve survival.
Source: allafrica.com
