The Credit Fund under the African Continental Free Trade Area (AfCFTA) Adjustment Fund has officially made its inaugural investment, marking a significant milestone in the fund’s mission to support Africa’s economic integration. The fund has extended a $10 million senior secured amortizing loan to Telecel Global Services, a subsidiary of the Mauritius-based Telecel Group.
This investment is part of a broader initiative led by the AfCFTA Secretariat in collaboration with the African Export-Import Bank (Afreximbank). The AfCFTA Adjustment Fund comprises three distinct financial vehicles designed to help African governments and private sector players adapt to the evolving trade landscape under the AfCFTA framework.
Telecel Global Services plays a critical role in Africa’s digital infrastructure. The company provides wholesale voice and SMS services, as well as enterprise connectivity solutions, to over 250 telecom operators across the continent and globally. The $10 million facility will support Telecel’s expansion efforts in Ghana and Liberia, enhance its telecommunications infrastructure, and contribute to narrowing Africa’s digital divide by improving access to reliable connectivity.
Jean-Louis Ekra, Chairman of the Board of the AfCFTA Adjustment Fund Corporation, emphasized the significance of this first transaction:
The closing of our first deal marks a historic milestone for the Credit Fund and the broader vision of the AfCFTA. This $10 million investment in Telecel Global Services is a clear demonstration of how targeted capital can drive meaningful impact – accelerating digital connectivity, enabling intra-African trade, and supporting private sector-led development in priority sectors. It is our commitment to ensure that such investments continue to bridge critical gaps, stimulate economic resilience, and unlock Africa’s vast potential.
Marlene Ngoyi, CEO of the Fund for Export Development in Africa (FEDA), which manages the AfCFTA Adjustment Fund, echoed this sentiment:
This investment exemplifies the strategic intent of the Credit Fund – to catalyse growth and resilience in sectors that are vital for Africa’s structural transformation. We are proud to partner with Telecel, whose operations directly advance intra-African connectivity and digital trade.
This first deployment of capital by the Credit Fund signals a strong commitment to supporting digital infrastructure as a foundation for trade and economic development across Africa. It also sets a precedent for future investments aimed at enabling the private sector to thrive under the AfCFTA framework.
