Telecoms – In brief

Telecoms

MTN Cameroon, the country’s largest mobile operator by subscribers, has signed a syndicated term loan and a five-year revolving credit facility to help fund the deployment and development of its 3G network. Biztech Africa writes that the XAF60 billion (USD103 million) facility was granted by a group of six banks led by Citibank Cameroon as the coordinator, bookrunner and mandated lead arranger. Akin Dada, executive general manager of Citibank Cameroon, noted that the agreement ‘marks an exciting new chapter for MTN’s ongoing growth and success’,