IFC invests in Liquid Telecom bond to support broadband connectivity in Africa
The World Banks’s International Finance Corporation (IFC) announced its investment in the bond issued by Liquid Telecommunications Holdings Ltd. to support the provision of telecoms and technology solutions to Africa. Such investment will allow the company to provide access to internet broadband and digital and cloud services across Africa which would, in turn, contribute to the digital economy. Liquid Telecom will refinance existing debt and free up funds to develop its digital infrastructure network across Africa, including in markets with low broadband penetration. ‘Our refinance enables us to continue to invest in the African digital eco-system including driving penetration of digital and Cloud-based services to businesses who may not previously have had the resources to benefit from them, helping to bridge the connectivity divide, which is more crucial than ever in our current circumstances,’ said Liquid Telecom Group Chief Executive Officer Nic Rudnick.