Telecoms firm secures $51m fresh funding

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    • AvatarEbigide Jude

      Pan-African telecommunications group with operations in Nigeria, Uganda, Tanzania, and the Democratic Republic of the Congo, Smile Telecoms Holdings Limited, has disclosed that its restructuring plan has been approved.

      This debt restructuring plan sees an injection of fresh money from Smile’s majority shareholder, the Al Nahla, and rescheduling on debt repayment until after March 2022.

      APO Group, in a statement deployed on behalf of Smile Telecoms Holdings Ltd, informed that the fresh injection of $51 million in funding for operations will enhance Smile’s position in its respective markets and energize its operations while supporting efforts towards achieving better performance.

      Smile Telecoms Holdings Ltd was founded in 2007, with its head office in England. The company has one of the largest sub-1 GHz 4G LTE commercial networks in Africa, operating in the “future proof’ low band, 800 MHz band, and mid-band.

      Smile was the first to launch VoLTE on its network and continued its innovation, introducing SmileVoice, a free mobile app. SmileVoice enables customers with any Android or Apple iPhone device (including those which are not VoLTE-enabled) to make SuperClear voice calls over Smile’s 4G LTE network. Smile was also the first to introduce an Unlimited offering, which enables SuperFast data and SuperClear voice, all on one bundle.


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