More Africa NewsDR Congo: Africell Group presented its telecoms investment projects to the Prime Minister

October 21, 2021by myles0
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On October 7, operational difficulties forced Africell Group to end its activities in Uganda. The company, which raised $ 105 million last June, has very specific ambitions in its other markets to avoid reliving such a situation.

Ijad Dalloul, the founder and managing director of the American telecoms group Africell, presented to Jean-Michel Sama Lukonde Kyenge, the Prime Minister of the Democratic Republic of the Congo, the company’s investment projects in the country. At the head of a delegation made up of senior executives from the company, he was received in audience by the head of government on Monday, October 18 in Kinshasa.

Member of the delegation, Ian Paterson, the director of investments of Africell Group, told reporters that “  we are here because we are doing a huge expansion of our network, especially in the east of the country. But also, this year, in Kikwit and Bandundu as well as in Kasai. And, in a few days, we are going to Goma and Lubumbashi to see what we can do in the East. We are going to double the size of said network here in Congo  ”.

The investment projects presented by Ijad Dalloul to Jean-Michel Sama Lukonde Kyenge come at a time when competition has intensified in the telecoms market, driven by the growing demand for telecom services caused by the Covid-19. Since the start of the year, competitors Orange and Vodacom have invested in their network, in particular through the commissioning of an optical fiber network, the extension of the service in rural areas, the modernization of the network. 2G to 3G.

Last June, telecoms group Africell secured a syndicated loan of $ 105 million from a group of international financial institutions, including Gemcorp Capital, Gramercy Funds Management LLC, TC Credit Partners LLC and funds advised by Helios Investment Partners. The company announced the use of the funds to strengthen its presence in Africa.

With the cessation of its activities in Uganda on October 7, caused by operational challenges due to Covid-19, the DR Congo market, like those of Sierra Leone, Gambia, and soon Angola, becomes more crucial for the group that dreams of greatness on the continent.

Source: Agence Ecofin

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