Copying and distributing are prohibited without permission of the publisher
MTN Ghana secures $276m for 3G network
18 May 2012
Ghanaian mobile operator secures $276m loan for 3G upgrade from four foreign banks and 16 local banks
Read more:
Ghana
MTN
loan
3G
upgrade
network
MTN’s Ghanaian subsidiary has secured a loan of $276 million in order to upgrade the entire network to 3G and beyond, reported Reuters citing Michael Ikpoki, the company’s managing director.
Ikpoki told Reuters that four foreign banks will provide $60 million, while nearly 16 local banks, which are led by Stanbic Bank Ghana, will provide $216 million.
Ikpoki said: “It was a successful syndication — the first of its kind and proof that we do not have to be always looking outside to raise funds for investments.”
MTN had nearly 10 million subscribers in Ghana in January 2012. GTB
More from GTB
Ghana to connect to ACE cable 27 Mar 2012
Ericsson extends MTN Ghana partnership 31 Jan 2012
Court probes Vodafone stake in Ghana 02 Nov 2011
Vodafone Ghana gets IFC loan to expand 15 Jun 2011
American Tower buys Ghana towers 06 Dec 2010