Moov Africa

active

 Maroc Telecom (“MT” or the “Sponsor”) is a mobile network operator (“MNO”) headquartered in Morocco with subsidiaries in other ten African countries (altogether named “Moov Africa” or “MA”) and listed on the Casablanca and Paris Stock Exchanges. Moov Africa provides mobile (voice and data), fixed line, internet, and mobile banking services across the ten countries. MT, a State-Owned Enterprise (“SOE”), has been an IFC client since March 2019 through MA Tchad. IFC is looking to provide separate corporate loans to eight out of MT’s ten subsidiaries (hereinafter referred to as “subsidiaries”) through debt facilities for a combined total of up to EUR375 million comprising A loans of up to EUR234 million and mobilised funds of up to EUR141 million. The loans will be structured through separate direct loan agreements with each of the eight subsidiaries, namely MA Benin, MA Burkina Faso, MA Côte d’Ivoire, MA Gabon, MA Mali, MA Niger, MA Tchad, and MA Togo to refinance existing debt and fund maintenance and expansionary capital expenditure. Each subsidiary is responsible for the design, construction, operation, and environmental and social (“E&S”) performance of its facilities and operations. This Environmental and Social Review Summary (“ESRS”) summarizes IFC’s E&S due diligence of MA’s eight subsidiaries mentioned above.