Africell and the Overseas Private Investment Corporation signed $100m financing commitment in November 2018 and concluded finance agreement in May 2019; OPIC is the development finance vehicle of the U.S. Government.
Africell Holding Limited (“Africell”) today reaffirmed its $100 million financing agreement with the Overseas Private Investment Corporation (“OPIC”), the U.S. government agency that finances and supports investment by American businesses in emerging markets.
At a specially convened meeting held at the U.S. Embassy in Sierra Leone and in the presence of H.E. Maria E. Brewer, U.S. Ambassador to Sierra Leone, Africell confirmed that the financing will be used to expand the availability, reach and quality of communications and associated value-added services across Africell’s operations in The Gambia, Sierra Leone, the Democratic Republic of Congo, and Uganda.
As part of the U.S. Government’s commitment, H.E. Maria Brewer highlighted the longstanding support of the USA to Sierra Leone across different sectors. She pointed out that: “the solid partnerships between the U.S. Embassy and the private sector, exemplified by this agreement with Africell, will lead to stronger relationships and fruitful development.”
Mr. Ziad Dalloul, Founder and Chairman of Africell stated: “Africell is at the forefront of the evolving landscape of African communications, data and technology enabled services and together with OPIC and our other stakeholders we are continuously investing in new solutions which drive development and improve our customers’ experience. We are the leading telecommunications and data operator in Sierra Leone and we intend to sustain and enrich this leadership position with the support of the OPIC funding”.Distributed by APO Group on behalf of U.S. Embassy in Sierra Leone.