KEMMCOM Media and Communications

Seacom secures $207 million in financing from IFC to expand its network and services in Africa

Seacom had been negotiating IFC financial support since May 2021 as part of its expansion in Africa. The total cost of the project is estimated at approximately 563 million USD.

IFC’s financing includes $70 million from the financial institution’s own funds, $42.24 million in co-financing mobilized from institutional investors and the equivalent of $94.76 million mobilized from Nedbank Limited and Mauritius Commercial Bank.