Morocco Telecom secures €370 million IFC loan to expand 4G in Chad and Mali
Morocco Telecom has secured a €370 million loan from the International Finance Corporation (IFC) to fund the rollout of 4G services in Chad and Mali, the company announced Friday.
The financing aims to improve access to high-speed internet, help bridge the digital divide, and support economic development, in line with the African Union's goal of creating a unified digital market by 2030.
Morocco Telecom, in which Emirati group e& holds a 53% stake, serves around 79 million customers, more than 57 million of whom are in ten African countries. It is the second-largest company on the Casablanca Stock Exchange by market capitalization.
«Morocco Telecom Group has been operating in sub-Saharan Africa for over 20 years. Our strategy focuses on enhancing telecom services and related products to meet the needs of a fast-growing young population», Mohamed Benchaaboun, General Manager of Morocco Telecom, said.
«In all our markets, mobile data is key to internet access, and 4G plays a crucial role in bridging the digital divide. This long-term financial partnership with the IFC in Chad and Mali will expand network coverage, improve service quality, support the broader adoption of 4G technology, and contribute to development in both countries», he added.
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Morocco Telecom has secured a €370 million loan from the International Finance Corporation (IFC) to fund the rollout of 4G services in Chad and Mali, the company announced Friday. The financing aims to improve access to high-speed internet, help bridge the digital divide, and support economic development, in line with the African Union's goal of creating a unified digital market by 2030. Morocco Telecom, in which Emirati group e& holds a 53% stake, serves around 79 million customers, more than 57 million of whom are in ten African countries. It is the second-largest company on the Casablanca Stock Exchange by market capitalization. «Morocco Telecom Group has been operating in sub-Saharan Africa for over 20 years. Our strategy focuses on enhancing telecom services and related products to meet the needs of a fast-growing young population», Mohamed Benchaaboun, General Manager of Morocco Telecom, said. «In all our markets, mobile data is key to internet access, and 4G plays a crucial role in bridging the digital divide. This long-term financial partnership with the IFC in Chad and Mali will expand network coverage, improve service quality, support the broader adoption of 4G technology, and contribute to development in both countries», he added.
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