Burundi’s largest mobile operator U-Com has raised a US$25m loan from the IFC to help expand its network, Reuters reports.
IFC country manager Aida Kimemia was quoted saying that the loan would help the company expand into rural and remote areas where…
Burundi’s largest mobile operator U-Com has raised a US$25m loan from the IFC to help expand its network, Reuters reports.
IFC country manager Aida Kimemia was quoted saying that the loan would help the company expand into rural and remote areas where mobile services are not currently available.
U-Com is owned by Egypt’s Orascom Telecom. It reportedly had 1.1 million subscribers in September, representing about two thirds of the market. It competes with state-owned ONAMOB, Africell and Econet Wireless Burundi.
Neither the bank nor the company was immediately available for comments.
