Investment Corporation Finance (IFC) Supports Maroc Telecom with a $430 Million Fund to Extend 4G Services in Chad and Mali
The International Finance Corporation (IFC) and Maroc Telecom have announced a strategic partnership worth €370 million ($430 million) to expand 4G mobile infrastructure in Chad and Mali. This collaboration aims to significantly enhance mobile connectivity and digital infrastructure, delivering faster, more reliable internet access to millions of individuals and businesses in both countries.
The Scope of the Partnership
The investment funds two loans totaling $430 million (equivalent to €370 million) exclusively for Maroc Telecom’s subsidiaries operating in Chad and Mali. The initiative focuses on accelerating the deployment of advanced 4G services to improve mobile data internet capabilities. The funding also supports expanding Maroc Telecom’s service portfolio, particularly mobile money services, to foster financial inclusion in underserved communities.
The partnership targets a wide user base covering over 57 million customers across fixed-line, mobile, and broadband platforms in the region.
The Impact of the Partnership
By improving 4G network coverage and service quality, the partnership helps narrow the digital divide in Chad and Mali, where current connectivity levels are limited. Enhanced digital infrastructure will drive economic growth by enabling innovation, skills development, and job creation in line with Africa’s continental development priorities.
The improved mobile connectivity supports everyday users and businesses, promoting social and economic progress. This investment strengthens Maroc Telecom’s regional footprint and responsiveness to the technological needs of the fast-growing young populations in sub-Saharan Africa.
Background
IFC, part of the World Bank Group, is dedicated to boosting private sector development in emerging markets. With operations spanning over 60 years and extending to more than 100 countries, IFC has been leveraging the private sector to advance the public good for over six decades.
Maroc Telecom, a telecom operator based in Rabat, Morocco, is a key player in the region. The remaining 25% of Maroc Telecom is publicly traded on the Casablanca and Paris stock exchanges, while UAE-based e& holds a 53% stake. The Kingdom of Morocco owns 22% of Maroc Telecom.
Quotes
Mohamed Benchaaboun, CEO of Maroc Telecom, stated that the partnership will strengthen network coverage and improve service quality. Makhtar Diop, IFC Managing Director, stated that this partnership aligns with Africa's priorities for innovation, skills development, and job creation.
In conclusion, this IFC-Maroc Telecom partnership is a strategic initiative designed to bridge digital gaps, expand access to quality internet, and unlock new economic opportunities in Chad and Mali through the rollout of comprehensive 4G connectivity and related digital services.
- This IFC-Maroc Telecom partnership, with a total investment of €370 million ($430 million), will not only focus on accelerating the deployment of advanced 4G services to improve mobile data internet capabilities, but also support expanding Maroc Telecom’s service portfolio, particularly in the area of mobile money services, to foster financial inclusion in underserved communities, thus combining the realms of industry, finance, and technology.
- As the partnership targets a wide user base covering over 57 million customers across fixed-line, mobile, and broadband platforms in the region, it is envisioned that enhanced digital infrastructure, driven by the merging of finance, technology, and the telecom industry, will spearhead economic growth by promoting innovation, skills development, and job creation, thereby reinforcing Africa's continental development priorities.
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