AfCFTA credit fund makes first investment
First AfCFTA Credit Fund investment: $10 million to Telecel.
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The Credit Fund of the AfCFTA Adjustment Fund has made its first investment, extending a $10 million senior secured amortising loan to Telecel Global Services.
The fund is one of three under the AfCFTA Adjustment Fund, set up by the AfCFTA Secretariat and the African Export-Import Bank to support governments and companies adjusting to the African Continental Free Trade Area.
Telecel Global Services, a subsidiary of the Mauritius-based Telecel Group, provides wholesale voice and SMS services and enterprise connectivity solutions to more than 250 telecom operators across Africa and globally. With digital connectivity being at the heart of the trade and economic integration and success of the AfCFTA, this facility will support Telecel’s expansion in Ghana and Liberia, strengthen its infrastructure, and contribute to bridging Africa’s digital divide through enhanced connectivity and digital inclusion.
Jean-Louis Ekra, chairman of the board of the AfCFTA Adjustment Fund Corporation, stated: “The closing of our first deal marks a historic milestone for the Credit Fund and the broader vision of the AfCFTA. This $10 million investment in Telecel Global Services is a clear demonstration of how targeted capital can drive meaningful impact – accelerating digital connectivity, enabling intra-African trade, and supporting private sector-led development in priority sectors. It is our commitment to ensure that such investments continue to bridge critical gaps, stimulate economic resilience, and unlock Africa’s vast potential.”
Marlene Ngoyi, CEO of FEDA, the fund manager of the AfCFTA Adjustment Fund, said: “This investment exemplifies the strategic intent of the Credit Fund – to catalyse growth and resilience in sectors that are vital for Africa’s structural transformation. We are proud to partner with Telecel, whose operations directly advance intra-African connectivity and digital trade.”
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