9mobile Secures $230m from AFC for Expansion

9mobile Nigeria has secured $230 million from the Africa Finance Corporation (AFC) to expand its network and compete effectively in the Nigerian market and others.

Confirming the transaction, the AFC said in a statement: “Africa Finance Corporation is pleased to inform Emerging Markets Telecommunication Services that it has received full Board approval to support the turnaround strategy of EMTS through a US$230 million super senior debt investment.”