November 9, 2018 / 7:44 AM / 12 days ago

U.S. OPIC signs $100 million loan deal with Africell

Logo of for Africell telecoms is seen along Rawdon street in the city center, in Freetown, Sierra Leone August 19, 2017. REUTERS/Afolabi Sotunde

JOHANNESBURG (Reuters) - African telecoms firm Africell on Friday signed a $100 million loan agreement with U.S. development financier the Overseas Private Investment Corporation (OPIC), both entities said.

The loan will help fund Africell’s expansion of communications infrastructure.

The deal was signed on the sidelines of the African Development Bank’s Africa Investment Forum in Johannesburg, and forms part of the OPIC’s $1 billion investment in African infrastructure and technology launched earlier in 2018.

Reporting by Joe Bavier; Writing by Mfuneko Toyana; Editing by Joe Brock

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