IFC Supports Maroc Telecom's $430M Expansion of 4G Network in Chad and Mali
Expanding Digital Connectivity in Chad and Mali: IFC and Maroc Telecom Partnership
The International Finance Corporation (IFC), a member of the World Bank Group, has entered into a significant partnership with Maroc Telecom to invest €370 million (approximately $430 million) in expanding 4G mobile infrastructure in Chad and Mali. This joint effort aims to bridge the digital divide, fuel economic development, and empower a fast-growing, youthful population with improved digital connectivity.
Maroc Telecom, a telecom operator based in Rabat, Morocco, currently owns 22% of the company. The majority stake, 53%, is held by the UAE-based e&. The partnership emphasizes the central role of mobile data in internet access and the importance of 4G in narrowing the digital divide.
The investment will enable a wider rollout of advanced 4G services, enhancing mobile data and internet connectivity across key sub-Saharan African markets such as Chad and Mali. This will strengthen Maroc Telecom’s subsidiaries serving over 57 million customers, improving network coverage and service quality in both fixed-line and mobile broadband sectors.
Digital inclusion is a key focus of this partnership. By supporting Mobile Money services, the investment will provide vital financial tools to underserved populations, contributing to financial inclusion. The partnership also supports sustainable economic growth and job creation by mobilizing private capital to build critical digital infrastructure aligned with African Union priorities for a single digital market by 2030.
Foster innovation, skills development, and cross-border economic integration are other benefits of this partnership, particularly in fragile areas. This partnership is expected to contribute to the development of Chad and Mali, opening doors to innovation, skills development, and job creation across Africa.
The financing for this project will be divided into two loans, totaling USD 430M (EUR 370M). IFC's mission is to improve living standards by investing in businesses that drive sustainable growth. As a long-term financial partner, IFC deploys capital, expertise, and influence to build markets and expand opportunities.
According to IFC Managing Director Makhtar Diop, this partnership will mark a major step in bridging the digital divide in Chad and Mali, fueling economic development and empowering a fast-growing, youthful population with improved digital connectivity. Maroc Telecom CEO Mohamed Benchaaboun stated that the partnership will strengthen network coverage and improve service quality, enabling widespread 4G adoption.
The IFC was founded in 1956 and its operations extend to more than 100 countries. This partnership is a testament to the IFC's commitment to improving living standards and driving sustainable growth in Africa. The remaining 25% of Maroc Telecom is publicly traded on the Casablanca and Paris stock exchanges.
In conclusion, the partnership between IFC and Maroc Telecom will significantly expand 4G mobile infrastructure in Chad and Mali, leading to faster and more reliable internet access for millions of people and businesses in these countries. This joint effort is a significant step towards bridging the digital divide, fostering innovation, and promoting economic development in Africa.
This investment by the IFC and Maroc Telecom will not only expand 4G mobile infrastructure in Chad and Mali, but it will also facilitate financial inclusion through Mobile Money services in underserved populations. Additionally, the partnership emphasizes the significance of mobile data in internet access and the crucial role 4G plays in narrowing the digital divide in finance and industry sectors.
