Airtel Africa has announced the signing of a $125 million revolving credit facility with Citi through its branch offices/subsidiaries in sub-Saharan Africa.
The facility is in line with Airtel Africa’s strategy to raise debt in the local operating companies, and will include both local currency and US dollar denominated debt. 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.
Besides, 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. Further, the facility strengthens the Group’s commitment to transforming lives across the communities in which the company operates.