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The Africa Credit Opportunities Fund (ACOF), a private credit fund, has announced a $20 million investment in Telecel Global Services.
ACOF is a joint-venture arrangement between Gateway Partners and the Fund for Export Development in Africa (FEDA), the development impact investment platform of the African Export-Import Bank.
Andrew Bainbridge, CEO of ACOF, said: "Through this strategic investment into West Africa's telecommunications landscape, ACOF and Telecel Group continue to forge pathways for connectivity and empowerment. This debt investment not only represents a sound financial opportunity but reaffirms our commitment to catalysing digitalisation and e-commerce across the continent."
Moh Damush, CEO of Telecel Group, commented: "We are excited to collaborate with ACOF on this transformative venture. This investment not only validates Telecel's growth potential but also reflects our shared vision of creating a more connected and digitally inclusive Africa."
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