Maroc Telecom IFC Partner Through €370M In Loans To Boost Digital Connectivity In Africa

(MENAFN- Caribbean News Global) RABAT, Morocco – Maroc Telecom and IFC are building a long-term partnership to support the subsidiaries of Maroc Telecom in Chad and Mali. Through this partnership, IFC will provide two loans for a total amount of €370 million to enhance mobile connectivity and improve the quality of mobile internet. The financing will support the rollout of 4G services, bringing faster, more reliable internet to more people and businesses across both countries.

“Operating in the sub-Saharan Africa region for more than 20 years, Maroc Telecom Group's strategy is to enhance telecommunication and associated products to serve a fast-growing young population,” says Mohamed Benchaaboun, CEO of Maroc Telecom.“With over 57 million customers outside of Morocco, Maroc Telecom provides all telecom services, from fixed line to mobile, and obviously broadband data access. In all our operations, mobile data is key to access internet, and 4G services are helping to reduce the digital divide: this long-term financial partnership with IFC in Chad and Mali will boost network coverage with a better quality of service, allowing massive adoption of 4G and supporting the countries' development. It will also provide further opportunities to enhance the portfolio of offers and services, such as Mobile Money which is critical for financial inclusion. Wherever Maroc Telecom operates, we are partnering with local stakeholders to ensure that economic performance goes hand in hand with a positive social impact and sustainable development.”

“Supporting cross-border investments through regional champions like Maroc Telecom is a strategic priority for IFC-especially in fragile and conflict-affected areas, where economic development fosters stability,” declares Makhtar Diop, IFC managing director.“By mobilizing private capital to expand digital infrastructure, we're unlocking opportunities for innovation, skills development, and job creation across Africa-fully aligned with the continent's priorities.”

These investments align with the African Union's ambition to build a secure single digital market in Africa by 2030 .

The post Maroc Telecom – IFC partner through €370M in loans to boost digital connectivity in Africa appeared first on Caribbean News Global .

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