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

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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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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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