Gambiaj.com – Africell is poised to drive significant progress in The Gambia’s digital infrastructure and economic growth following a successful $300 million bond issuance. Part of a broader expansion effort, the funds raised through this bond will strengthen Africell’s capabilities in The Gambia, Angola, the Democratic Republic of Congo (DRC), and Sierra Leone, enhancing mobile and data connectivity for businesses, communities, and the broader digital economy.

The Emerging Africa & Asia Infrastructure Fund (EAAIF) served as the anchor investor, contributing $28 million to the issuance, a milestone for Africell. This investment will directly fund infrastructure improvements, benefiting Africell’s 14 million subscribers across these nations with stronger network coverage and enhanced data services, bridging digital divides and supporting new avenues for socio-economic development.

In addition to advancing connectivity, this bond issuance introduces The Gambia and other participating countries to the global capital markets, signaling international interest in their growth potential. “The success of this bond issuance is transformational,” said Africell’s Executive Vice President Magase Mogale. “It has allowed us to bring international investors into these African markets, demonstrating the opportunities that exist here and paving the way for further foreign investment.”

The bond funds will address urgent connectivity needs, supporting individual users and bolstering local enterprises reliant on mobile services. This expansion aligns with The Gambia’s goals to improve digital access, foster innovation, and encourage entrepreneurship—key aspects of the country’s development strategy.

Tidiane Doucoure, Director of Emerging Market Alternative Credit at Ninety One Group, which manages EAAIF, underscored the transformative potential of this investment. “Our role as anchor investor shows our commitment to our host countries’ future. By attracting more private capital into markets like The Gambia, we can drive lasting economic and social progress,” Doucoure noted.

Africell’s bond success sets a promising precedent for further private investment, opening opportunities for growth and prosperity across the region.