Africell to spend $100 million on mobile infrastructure, fintech in Africa
Africell Uganda head office in Kampala. The US loaned more than $100 million to Africell to expand access to telecommunications in Africa. PHOTO | DAILY MONITOR
African telecom firm Africell plans to spend part of a $100 million US credit line on expanding its infrastructure and fintech services, its chief executive said on Friday.
The 18-year-old company, which has 15 million subscribers across its four African operations, secured the loan in May from the Overseas Private Investment Corporation (OPIC), the US government’s private investment fund.
