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Smile owners, lenders agree on refinancing plan Wednesday April 07 2021 Smile Uganda, which is a subsidiary of Smile Telecoms Holdings has operations within Kampala and other cities. PHOTO/COURTESY Summary The dispute had threatened close to $250m in loans due to Smile Telecoms held in both equity and commercial bank loans.  Advertisement Smile Telecoms Holdings shareholders have agreed on a refinancing plan that will see majority owner, Al Nahla Group, commit $51m in fresh capital.  The South African-based telecom, which has operations in Uganda, Tanzania, DR Congo and Nigeria had been threatened by a disagreement between two majority shareholders -  Saudi Arabia’s Al Nahla Group and South Africa’s Public Investment Corporation - after they failed to agree on  a put option, thus exposing the company to liquidation. 

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