Orange secures XOF 70 bln credit facility in Cote d'Ivoire
4 October 2019
Orange has agreed terms for a XOF 70 billion revolving credit facility in Cote d'Ivoire, provided by a group of five banks led by BNP Paribas subsidiary BICICI, reports Agence Ecofin. The five-year deal will support the operator’s infrastructure expansion plans, and particularly its fibre optic investment.
Mamadou Bamba, CEO of Orange Cote d'Ivoire, revealed earlier this year that the subsidiary’s investments would amount to XOF 180 billion in 2019 and 2020. This will fund ongoing projects, including the deployment of LTE and the introduction of new mobile banking services, such as micro loans.
Orange has also recently confirmed a major investment partnership in the MainOne cable system to improve connectivity in both Cote d’Ivoire and Senegal. The deal enables the operator to acquire additional capacity in West Africa, providing an alternative route to the other submarine cables in the area (SAT3 WASC SAFE and ACE).
Source: Agence Ecofin