The proposed project involves a mezzanine investment of up to US$12.5 million by IFC as well as a mobilisation of up to US$12.5 million from Parallel Lenders to support Niel Finance and Services S.A. (“NFS” or the “Sponsor”) with funding for the upgrade and deployment of the telecom infrastructure of its subsidiaries, including Telecel Centrafrique, (“Telecel CAR”), the leading provider of mobile services in Central Africa Republic (“CAR”) and its sister company, Telecel Global, an integrated wholesale telecom services provider of international voice, data and SMS services in CAR and other sub-Saharan Africa countries, as well as the refinancing of a portion of Telecel CAR’s existing debt (the “Project”).Telecel CAR is implementing a Capital Expenditure (“CapEx”) program that will enable further digital inclusion in CAR by making quality mobile and broadband services available to previously under- and un- served populations in the country. This will be achieved through the deployment of the necessary telecom infrastructure for the delivery of digital services to the government, individuals and businesses in CAR. Telecel CAR will increase its 2G and 3G sites in CAR from 167 to 197 through new site deployments, site upgrades from 2G to 3G, and the rehabilitation/re-installation of about 20 sites that were destroyed by the civil disturbances. Through Telecel CAR’s sister company, the Project will help in substantially improving the quality and capacity of digital connectivity in CAR by deploying fiber infrastructure for the first time in the country.
Niel Finance and Services S.A. is a privately held Mauritius based company. NFS acts as an investment company holding its shareholders’ interests in telecom operating companies in sub-Saharan Africa. NFS’s shareholders are Mr. Laurent Foucher, Mr. Nicolas Bourg, Mr. Damush Mohammed and Carat S.A.R.L (wholly owned by Mr. Hugues Mulliez), each with a 25% ownership stake.
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Chief Operating Officer
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