US Approves $99.6 Million Loan to Africell for Angola Network Upgrade
The deal backs the American-owned operator’s push for newer tech in sub-Saharan markets, tied to the broader Lobito Corridor work.
TL;DR
- The Export-Import Bank of the United States (EXIM) approved a $99.6 million direct loan to Africell.
- Africell is the only U.S.-owned mobile network operator active in Africa.
- The loan will support Africell's growth and introduce American technology and investment in Africa.
- CEO Ziad Dalloul stated the company is pleased to work with EXIM to improve communications infrastructure in their operating markets.