Influences
Morocco Telecom: 370 million euros from IFC to develop 4G in Chad and Mali
This financing will support the deployment by Morocco Telecom subsidiaries of 4G services in the two countries, offering faster and more reliable internet access to a greater number of people and businesses.
Morocco Telecom and IFC, the International Finance Corporation, are establishing a long-term partnership to support Morocco Telecom’s subsidiaries in Chad and Mali, according to a statement from the World Bank’s financial institution.
As part of this partnership, IFC will grant two loans totaling 370 million euros to improve mobile connectivity and the quality of mobile internet. This financing will support the rollout of 4G services, providing faster and more reliable internet access to more people and businesses in these two countries.
Operating in sub-Saharan Africa for more than 20 years, Morocco Telecom Group’s strategy is to improve telecommunications and related products to serve a rapidly growing young population, said Mohamed Benchaaboun, CEO of Morocco Telecom, quoted in the statement.
He added: “With more than 57 million customers outside Morocco, Morocco Telecom provides all telecom services, from fixed line to mobile, and of course broadband data access. In all our operations, mobile data is key to internet access, and 4G services help reduce the digital divide: this long-term financial partnership with IFC in Chad and Mali will strengthen network coverage with better service quality, enabling massive 4G adoption and supporting the countries’ development. It will also offer new opportunities to enrich the portfolio of offers and services, such as Mobile Money, essential for financial inclusion. Wherever Morocco Telecom operates, we collaborate with local stakeholders to ensure that economic performance is accompanied by positive social impact and sustainable development.”
“Supporting cross-border investments through regional champions like Morocco Telecom is a strategic priority for IFC, especially in fragile and conflict-affected states,” said Makhtar Diop, IFC Managing Director. “By mobilizing private capital to expand digital infrastructure, we open new opportunities for innovation, skills development, and job creation across Africa, aligned with the continent’s priorities,” he added.
These investments align with the African Union’s ambition to build a secure single digital market in Africa by 2030, the statement concluded.
