Economy

Africell’s Landmark $300 Million Bond Boosts Digital Infrastructure and Economic Growth in The Gambia and Others

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.

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How FAR Ltd. Left The Gambia Empty-Handed With Questions on Financial and Strategic Losses

A penalty clause required FAR to pay $22 million if it failed to meet this obligation. FAR argued for both an extension and a waiver of the penalty, citing previous drilling efforts and a promised technical review. This review was never delivered. Jerreh Barrow, however, recommended granting FAR’s request and waiving the penalty, a decision supported by the Petroleum Negotiation Committee and approved by the Petroleum Minister, despite the lack of independent verification of FAR’s work.

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