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International Finance Corporation (IFC) Finances Maroc Telecom's $430 Million Project for Enhanced 4G Network Across Chad and Mali

International Finance Corporation (IFC) is collaborating with Maroc Telecom through a $430 million financing deal, aiming to expand 4G mobile infrastructure in Chad and Mali. This partnership involves IFC providing two loans worth a combined total of USD 430 million (EUR 370 million) to enhance...

International Finance Corporation (IFC) Finances Maroc Telecom Expansion of 4G in Chad and Mali to...
International Finance Corporation (IFC) Finances Maroc Telecom Expansion of 4G in Chad and Mali to the Tune of $430 Million

International Finance Corporation (IFC) Finances Maroc Telecom's $430 Million Project for Enhanced 4G Network Across Chad and Mali

The International Finance Corporation (IFC), a global organisation dedicated to boosting private sector development in emerging markets, has announced a long-term financial partnership with Maroc Telecom, a telecom operator based in Rabat, Morocco [1]. The partnership, worth $430 million (€370M), aims to significantly improve mobile connectivity, enhance mobile internet quality, and broaden 4G network coverage in the countries of Chad and Mali [1][3].

This financing package supports the rollout of faster and more reliable 4G services, a crucial step in narrowing the digital divide and enabling widespread 4G adoption [1][3]. The partnership is in line with Africa's priorities for digital infrastructure development [6].

The main benefits of this partnership include:

  1. Improved Internet Access: Faster and more reliable 4G mobile internet will reach a broader range of users and businesses, facilitating better access to digital services [1].
  2. Digital Inclusion: Expansion of 4G networks drives increased digital inclusion, opening opportunities for previously underserved communities in Chad and Mali to participate in the digital economy [1][3].
  3. Economic Growth and Job Creation: By mobilizing private capital to expand digital infrastructure, the project stimulates innovation, skills development, and job creation, contributing to sustainable economic growth aligned with African development priorities [1].
  4. Regional Development Model: This partnership serves as a template for similar ventures in West Africa, supporting broader regional ambitions to enhance connectivity and digital resilience [5].

The Kingdom of Morocco owns 22% of Maroc Telecom, while UAE-based e& holds a 53% stake. The remaining 25% of Maroc Telecom is publicly traded on the Casablanca and Paris stock exchanges [2]. The partnership is centered on mobile data, with 4G being crucial to internet access in all operations [4].

According to Makhtar Diop, IFC Managing Director, this partnership will open doors to innovation, skills development, and job creation across Africa [7]. Mohamed Benchaaboun, CEO of Maroc Telecom, stated that the partnership will strengthen network coverage and improve service quality, enabling widespread 4G adoption [8].

Established in 1956, IFC has been leveraging the private sector to advance the public good for over 60 years [9]. Its operations span over 100 countries, and its mission is to improve living standards by investing in businesses that drive sustainable growth [10]. The IFC's operations are focused on fostering green growth, expanding inclusive employment, and delivering meaningful, transformative impact [10].

In conclusion, this financing strengthens Maroc Telecom’s regional footprint and contributes to the development of Chad and Mali by improving infrastructure critical for economic progress, education, and digital technology adoption [1][5]. By bridging the digital divide and stimulating economic growth, this partnership sets a promising example for future collaborations in digital infrastructure development.

References: 1. IFC Press Release 2. Maroc Telecom Ownership Structure 3. World Bank Group Blog 4. Reuters Article 5. Africa.com Article 6. Africa's Priorities for Digital Infrastructure Development 7. IFC Managing Director Quote 8. Maroc Telecom CEO Quote 9. IFC Establishment Year 10. IFC's Mission and Focus Areas

This funding will stimulate the rollout of faster and more reliable 4G services and foster digital inclusion, particularly in previously underserved communities in Chad and Mali [1][3]. The partnership between the International Finance Corporation (IFC) and Maroc Telecom is aligned with Africa's priorities for digital infrastructure development [6]. Additionally, this partnership in the technology sector can lead to increased economic growth and job creation, as well as serve as a template for similar ventures in West Africa [4][5].

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