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Celtel


World Bank Group - Committed to Africa
 
Regional Communications Infrastructure Program (RCIP)
 EASSy 
 eGhana 
 eRwanda 
 WIZZIT mobile banking 
 infoDev Business Incubators 
 Celtel 
 MTN 
 Village Phone Nigeria 
 Output Based Aid Uganda 
 infoDev Survey of ICT and Education in Africa 
 Global Capacity Building Initiative (GCBI)
 Central Africa Backbone (CAB)
 DRC Broadband 
 Africa Infrastructure Country Diagnostics (AICD)

Since IFC’s first cellular investment in the former Zaire in 1991, IFC has continued to invest heavily in the sector in Africa and to partner with leading pan-African mobile telecommunications companies such as Celtel.

With a long-standing relationship dating back to 1999, IFC has made a series of investments totaling US$417 million in Celtel operations in 14 countries of which, US$131 million in syndications under the IFC B loan program.

IFC almost always brings along co-investors into projects, providing comfort and acting as a catalyst in encouraging other private investors into markets that are often considered too risky. It is estimated that each dollar of IFC funding attracts approximately US$9 in outside private financing.

In June 2007, IFC helped to mobilize US$160 million from commercial banks and bilateral financial institutions, in addition to US$160 million for its own account to support Celtel’s expansion in DRC, Madagascar, Malawi, Sierra Leone, and Uganda. The transaction marks the first-ever mobilization of IFC syndicated loans in Madagascar, Malawi, and Sierra Leone, helping bring long-term commercial financing to markets at the frontier of private sector development.

IFC’s support of Celtel in its development from a small start-up company into the large corporate entity it is today, is a reflection of IFC’s commitment to a true partnership with its clients.


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