Vodafone Ghana receives US$115 million in IFC-led financing

The IFC, a member of the World Bank Group, has mobilised a US$115 million financing package for Vodafone Ghana from Chinese, German, and African institutions to help the company enhance its telecommunications network, and spread the benefits of mobile phone and broadband services in Ghana, especially in rural areas.

The debt package includes financing from a diverse group of commercial banks and development finance institutions, and is IFC’s first syndication with the Export-Import Bank of China and China Development Bank.

In 2010, IFC provided Vodafone Ghana with a US$100 million loan from its own account consisting of a US$75 million senior loan and US$25 million subordinated loan.