ACOF and Telecel Group Partner for $20M Investment in Telecom Expansion in West Africa

ACOF and Telecel Group Partner for $20M Investment in Telecom Expansion in West Africa

ACOF and Telecel Group Partner for $20M Investment in Telecom Expansion in West Africa

Africa Credit Opportunities Fund (ACOF), a pioneering private credit fund, and Telecel Group, a prominent player in the African telecommunications sector, are delighted to announce their collaboration on a US$20M investment in Telecel Global Services, which will be targeted for the Telecel Global Services’ expansion in West Africa. This strategic partnership underscores their joint commitment to advancing connectivity, fostering innovation, and bridging the digital divide throughout Africa. ACOF is a joint-venture arrangement between Gateway Partners and the Fund for Export Development in Africa (FEDA), the development impact investment platform of African
Export-Import Bank (Afreximbank).

The collaboration between ACOF and Telecel Group underscores the importance of private investment in driving innovation and progress within the African telecommunications industry. This partnership is not only poised to benefit Telecel Global Services but also holds significant potential for job creation, technological advancement, and overall economic development across the continent.

Through this strategic investment into West Africa’s telecommunications landscape, ACOF and Telecel Group continue to forge pathways for connectivity and empowerment. This debt investment not only represents a sound financial opportunity but reaffirms our commitment to catalyzing digitalization and e-commerce across the continent.

Andrew Bainbridge, CEO, ACOF

For Telecel, this investment stands as a resounding vote of confidence in its business model and its ambitious growth path. It symbolizes the company’s unwavering dedication to providing cutting-edge telecommunications solutions to its rapidly expanding customer base in Africa. Telecel Global Services remains steadfast in its vision to transform the telecommunications landscape across the continent and bridge the digital divide.

We are excited to collaborate with ACOF on this transformative venture. This investment not only validates Telecel’s growth potential but also reflects our shared vision of creating a more connected and digitally inclusive Africa.

Moh Damush, CEO, Telecel Group

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