The Credit Fund of the AfCFTA Adjustment Fund has successfully closed its first investment, committing US$10 million to Telecel Global Services Ltd, through a senior secured
amortising loan. The transaction marks a significant milestone in the operationalisation of the Fund.
The Credit Fund is one of three Funds under the AfCFTA Adjustment Fund,
established by the AfCFTA Secretariat and African Export-Import Bank
(Afreximbank) to provide targeted transitional support to AfCFTA State
Parties and private sector entities as they adjust to the requirements
and opportunities presented by the AfCFTA Agreement.
Telecel Global Services, a subsidiary of the Mauritius-based Telecel
Group, provides wholesale voice and SMS services and enterprise
connectivity solutions to more than 250 telecom operators across Africa
and globally. With digital connectivity being at the heart of the trade
and economic integration and success of the AfCFTA, this facility will
support Telecel’s expansion in Ghana and Liberia, strengthen its
infrastructure, and contribute to bridging Africa’s digital divide
through enhanced connectivity and digital inclusion. By investing in
digital infrastructure in underserved markets, the Fund is helping
reduce trade barriers, foster cross-boarder productivity and accelerate
inclusive industrialisation.
Mr. Jean-Louis Ekra, Chairman of the Board of the AfCFTA Adjustment Fund
Corporation, stated: “ The closing of our first deal marks a historic
milestone for the Credit Fund and the broader vision of the AfCFTA. This
US$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.”
H.E. Wamkele Mene, Secretary-General of the AfCFTA Secretariat, noted:
“This transaction demonstrates how the AfCFTA Adjustment Fund is
beginning to serve its intended purpose – supporting State Parties and
the private sector as we work to make this Agreement commercially
meaningful. By investing in digital infrastructure, we are addressing
some of the most critical enablers of trade facilitation,
industrialisation, and regional value chain development.”
Prof. Benedict Oramah, President and Chairman of the Board of Directors
of Afreximbank, added: “Today, we make another bold statement of our
unwavering intent to ensure that Africans reap the benefits of the
African Continental Free Trade Agreement. We are proud to have commenced
the operationalisation of the Credit Fund. With this Fund, we will
provide vital support to African corporates, helping them retool and
expand their operations necessary to capitalise on the AfCFTA
opportunities. The investment strengthens a critical enabler, the
digital economy and regional connectivity, while reinforcing our
long-term commitment to transforming the structure of the African
economy. .”
Marlene Ngoyi, CEO, FEDA, the Fund Manager of the AfCFTA Adjustment
Fund, said: “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.”
The Credit Fund will continue to prioritise commercially viable
investments that enable trade, support diversification, and promote
inclusive growth in line with the broader AfCFTA implementation agenda.
