AMLAK FINANCE CONTRIBUTES USD3 MILLION TO SUDATEL SYNDICATION
Amlak Finance is amongst a select group of financial institutions to help finance investment projects for Sudan Telecommunications Company (Sudatel). The company’s participation in the syndicated finance facility worth $40 million represents its first venture out of the United Arab Emirates (UAE).
Amlak’s three million dollar contribution to the overall facility occurs alongside five other financial institutions including lead arranger, Arab Investment Company and participants National Bank of Kuwait (NBK), Investment Bank of Khartoum, African Export-Import Bank and Dubai Islamic Bank.
The two-year facility will be used toward the financing of Sudatel investment projects. Sudatel has recently adapted digital and satellite networks, as well as fiber opticals to link Sudan’s remote areas. Particular emphasis has been placed on developing telecommunications in Sudan’s war-torn south.