Comoros Telecommunication Infrastructure Expansion

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The project involves the installation of up to 50 new mobile telecommunications base stations and associated cable and microwave equipment on the islands of Comoros. The sponsors are Telma Mobile SA, the mobile national operator in Madagascar, and NJJ Indian Ocean SAS, a telecommunications investment company. The entity receiving the support is Telecom Comores SA, known as Telco SA, and it is owned by NJJ Indian Ocean (50%), Societe Financiere Malgache LTEE (15%) and Telma Mobile (35%). The ultimate beneficiary owners are mainly Mr. Hassanein Hiridijee and Mr. Xavier Niel. Telco operates since December 2016 and is the 2nd mobile operator following the liberalization of the telecommunications market and a successful bid process for the 2nd license in Comoros. The total project cost is estimated at $ 74 million. International Finance Corporation (IFC)'s investment consists of an A loan of $ 15.88 million, which will be used for the project and also for for refinancing existing shareholder bridge loans. Financial close was reached on 14 January 2019. https://disclosures.ifc.org/#/projectDetail/SII/37209 https://disclosures.ifc.org/#/projectDetail/ESRS/37209 https://ifcextapps.ifc.org/IFCExt/Pressroom/IFCPressRoom.nsf/0/07778654467AC0BD852583A8004700EB

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