Telco SA (IFC-37209)

Countries
  • Comoros
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Mar 14, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
TELCO SA
The holder of the loan, grant, or other investment.
Sectors
  • Communications
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 15.88 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 74.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jul 11, 2018

Disclosed by Bank Jan 23, 2018


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Project Description

Telco S.A. seeks to expand its current network in Comoros and refinance existing shareholder bridge loans. For this purpose, the Company has invited IFC to consider the provision of US$16 million senior debt.

Investment Description
  • International Finance Corporation (IFC)
Private Actors

Telco SA commenced operations in December 2016 as the second mobile operator following the liberalization of the telecommunications sector and a successful bid process for the second license in Comoros. The Project Sponsors are Telma Mobile SA (a mobile national operator in Madagascar) and NJJ Indian Ocean S.A.S (a telecommunications investment company). Telco SA is a private company owned 50% by NJJ Indian Ocean S.A.S, 15% by Societe Financiere Malgache LTEE and 35% by Telma Mobile SA. The ultimate beneficiary owners are mainly Mr. Hassanein Hiridijee and Mr. Xavier Niel. 

Contact Information

Telco S.A. 
Rija Ranaivoson 
Director Finance 
+269 411 00 03 
Rija.ranaivoson@telma.km 
Alliance franco-comorienne, Rivka 2eme stage, Moroni, Comores 
www.telma.km 

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/