Airtel Africa has secured a US$150 million loan from the International Finance Corporation to expand and upgrade mobile network infrastructure across the continent.

The financing will be provided to two Airtel Africa subsidiaries and used to strengthen network capacity and widen high-speed data coverage in underserved communities, according to the IFC.

The investment builds on an existing relationship between Airtel Africa and the World Bank Group’s private sector arm, which has previously backed the operator’s mobile connectivity expansion in the region.

IFC said the latest financing is intended to support broader access to digital services, including for small businesses, entrepreneurs, mobile money agents and online traders that depend on reliable connectivity. 

“Through our ongoing partnership with IFC, we are advancing the expansion and modernisation of our network, underpinning a core pillar of our strategy,” said Airtel Africa CEO Sunil Taldar. 

He added that the financing reflects the company’s ambition to accelerate digital inclusion, expand access to digital tools and services, and support greater economic opportunities for individuals and communities.

Airtel Africa provides telecommunications and mobile money services across 14 countries in Sub-Saharan Africa. The company offers mobile voice, data and mobile money services, with a strategy focused on expanding access to connectivity and digital financial services across its markets.

IFC said longer-tenor and local-currency financing would help Airtel Africa continue investing in its networks across the region.

Expanding access to reliable digital infrastructure remains a core part of its strategy to support growth in Sub-Saharan Africa, with stronger connectivity expected to support new businesses, entrepreneurship and job creation.

Over the past decade, IFC has committed and mobilised more than US$12 billion for telecommunications, media and technology projects in emerging markets.

“Expanding digital connectivity is ultimately about expanding opportunity,” said Dan Croft, acting regional manager for infrastructure in Eastern Africa at IFC. He added that stronger networks help businesses reach new customers, give workers access to wider markets, and connect young people to skills and services.

IFC’s partnership with Airtel Africa supports the infrastructure needed to turn connectivity into jobs, inclusion and sustained growth across Airtel Africa’s markets, Croft continued.