Mobile operator MTN Ghana has signed a US$276m loan to fund its network expansion, the company’s managing director Michael Ikpoki told Reuters.
The facility is reportedly split between a GCd410m (US$216m) loan arranged by 16 local banks led by…
Mobile operator MTN Ghana has signed a US$276m loan to fund its network expansion, the company’s managing director Michael Ikpoki told Reuters.
The facility is reportedly split between a GCd410m (US$216m) loan arranged by 16 local banks led by Stanbic Bank Ghana, a member of the Standard Bank Group. The remaining US$60m are provided by four foreign lenders.
Rumours of a loan for MTN Ghana were first reported a few months ago.
In late February, TelecomFinance had confirmed that MTN Ghana had appointed Standard Bank to coordinate a US$300m five-year loan.
The dual-tranche loan, in Ghanaian cedis and US dollars, was expected to be launched in March to national and international banks.
MTN Ghana, a subsidiary of South Africa’s MTN Group, is the largest mobile operator in Ghana.
