Smile Telecoms aims to rebound through restructuring
Published by: Andrew Mizner at 25/05/2021 Last month’s restructuring should ease pressure on the Africa-focused telecoms company, with Afrexi.
Last month’s restructuring should ease pressure on the Africa-focused telecoms company, with Afreximbank playing a role as a leading lender.
Smile Telecoms, the London-headquartered mobile broadband provider which operates in Nigeria, Uganda and Tanzania, has restructured its finances, with help from lenders including a major African development bank.
The restructuring plan was approved by lenders on 1 April this year, with the company receiving USD 51 million in funding from majority shareholder
Al Nahla and rescheduling its debt repayment until after March next year. Al Nahla, a Saudi Arabian holding and investment company, provided the funding through a new Luxembourg-registere