Opic, Africell commit $100m to develop Africa’s telecommunications environment

US development finance institution Overseas Private Investment Corporation (Opic) and mobile telecommunications operator Africell have signed a financing deal that will see $100-million injected into the development of the telecommunications sector in Africa. The growth capital facility, one of Opic’s first commitments under the Connect Africa initiative, will enable Africell to finance the upgrading and expansion of its mobile networks in Uganda, the Democratic Republic of the Congo, Sierra Leone and Gambia.