AA DRC II Upsiz.

pending

The proposed transaction consists of a repeat senior unsecured IFC loan of up to US$150 million to Airtel Africa plc subsidiaries in the Democratic Republic of Congo (DRC) and Kenya (together, the operating companies or OpCos), under IFC’s ongoing Airtel Africa platform-level investment. The financing will be processed as a single IFC transaction and will support a combination of growth capital expenditure—primarily network expansion and modernization (including 4G infrastructure and fibre capacity)—and refinancing of existing debt.Airtel Africa plc (AA or ‘the Group’) is an integrated telecommunications and mobile money service provider operating in 14 African countries through its OpCos. The group operates under an asset light business model, with limited ownership of passive network infrastructure, and primarily relies on Original Equipment Manufacturers (OEMs), third party tower companies (TowerCos), fibre providers (FibreCos), and specialized contractors for the construction, operation, and maintenance of towers and fibre networks. Capital expenditures (Capex) are therefore largely focused on active network equipment (including spectrum), network optimization, and service quality improvements, implemented through leasing arrangements, anchor tenant agreements, and contractor led deployments. The proposed transaction does not introduce new business lines, technologies, or countries of operation, and builds on the same operational footprint and risk profile assessed under IFC’s prior investments in the group. This will be IFC’s fourth investment in AA, following Airtel Africa I #43749 (https://disclosures.ifc.org/project-detail/ESRS/43749/airtel-africa), Airtel II (https://disclosures.ifc.org/project-detail/ESRS/48663/airtel-africa-ii), and Airtel Africa II Upsizing (https://disclosures.ifc.org/project-detail/ESRS/51083/airtel-africa-ii-upsizing). Environmental and Social (E&S) performance has been satisfactory, and previously identified weaknesses have been addressed through IFC’s supervision activities. Based on IFC’s due diligence, no material gaps requiring additional Environmental and Social Action Plan (ESAP) items have been identified for the proposed transaction.