9mobile Gets $230m Loan Facility to Boost Growth Plan

Africa Finance Corporation (AFC) has announced the approval of a $230 million loan facility for 9mobile to help it attain its long-term growth plans. The new Board and Management of Emerging Markets Telecommunication Services Limited (EMTS), trading as 9mobile.

In a statement, signed by its Executive Director, Regulatory and Corporate Affairs, Abdulrahman Ado, said the approval was part of its efforts to secure loan facility from the AFC to enable it reposition the company, adding that such efforts have started yielding positive results.

AFC is a pan-African multilateral development financial institution established to bridge Africa’s infrastructure investment gap through the provision of debt and equity finance, project development, technical and financial advisory services.