As part of the agreement, IFC will extend two loans totaling $424.54m to improve mobile connectivity and enhance the quality of mobile internet in Chad and Mali.
Maroc Telecom and IFC have announced a long-term partnership to support the subsidiaries of Maroc Telecom in Chad and Mali. Through this partnership, IFC will provide two loans for a total amount of $424.54m to enhance mobile connectivity and improve the quality of mobile internet. The financing will support the rollout of 4G services, bringing faster, more reliable internet to more people and businesses across both countries.
Mohamed Benchaaboun, CEO of Maroc Telecom, said: “Operating in the sub-Saharan Africa region for more than 20 years, Maroc Telecom Groups strategy is to enhance telecommunication and associated products to serve a fast-growing young population. With over 57m customers outside of Morocco, Maroc Telecom provides all telecom services, from fixed line to mobile, and obviously broadband data access. In all our operations, mobile data is key to access internet, and 4G services are helping to reduce the digital divide: this long-term financial partnership with IFC in Chad and Mali will boost network coverage with a better quality of service, allowing massive adoption of 4G and supporting the countries development. It will also provide further opportunities to enhance the portfolio of offers and services, such as Mobile Money which is critical for financial inclusion. Wherever Maroc Telecom operates, we are partnering with local stakeholders to ensure that economic performance goes hand in hand with a positive social impact and sustainable development.”
Makhtar Diop, IFC Managing Director, added: “Supporting cross-border investments through regional champions like Maroc Telecom is a strategic priority for IFCespecially in fragile and conflict-affected areas, where economic development fosters stability. By mobilising private capital to expand digital infrastructure, were unlocking opportunities for innovation, skills development, and job creation across Africafully aligned with the continents priorities.”
These investments align with the African Unions ambition to build a secure single digital market in Africa by 2030.
