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Kolkata: Bharti Airtel<\/a>’s Africa arm plans to raise $194 million via debt from International Finance Corporation (IFC<\/a>), the private sector lending arm of the World Bank, to fund capex needs of key subsidiaries and refinance existing loans.

The debt financing package for
Airtel Africa Plc<\/a> will comprise a direct $150 million investment from Washington-based IFC and an additional $44 million in mobilisation from its Managed Co-Lending Portfolio Program (MCPP).

In a disclosure on its website, IFC said the proposed investment is to support
Airtel Africa<\/a>’s network investment across seven subsidiaries as well as refinancing its existing loans. “IFC will support the (Airtel<\/a> Africa) project with a debt package of upto $150 million from its own account and upto $44 million in mobilisation from MCPP funds,” the World Bank’s private sector arm said.

Airtel Africa did not respond to ET's queries as of press time.

The IFC funding will support Airtel Africa’s capex and loan refinancing needs in seven key markets -- Kenya, Chad, Democratic Republic of Congo, Madagascar, Niger, Republic of Congo and Zambia.

Bharti’s Africa unit, which has seen a strong business resurgence in recent years, was made part of the FTSE 100 Index in end-January. The company completed its first full year of profitability in FY18, marking a turnaround from previous years when losses had mounted every quarter, dragging down consolidated numbers and had even cast a doubt on Bharti’s strategy of entering into the continent back in 2010. Airtel Africa Plc was listed on London Stock Exchange in late-June 2019.
\"Airtel’s<\/a><\/figure>

Airtel’s enterprise revenue, valuation likely to grow: Analysts<\/a><\/h2>

“Our comparison of Bharti’s enterprise services with closest competitor Tata Communications (TCom) reveals Bharti’s revenue is 1.3x and Ebitda higher by 1.5x. Further, over 9MFY22 Bharti’s enterprise revenue growth of 11% YoY is against flat data revenue for Tata Communications,” CLSA said in an analysis note.<\/p><\/div>

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<\/span><\/figcaption><\/figure>
Kolkata: Bharti Airtel<\/a>’s Africa arm plans to raise $194 million via debt from International Finance Corporation (IFC<\/a>), the private sector lending arm of the World Bank, to fund capex needs of key subsidiaries and refinance existing loans.

The debt financing package for
Airtel Africa Plc<\/a> will comprise a direct $150 million investment from Washington-based IFC and an additional $44 million in mobilisation from its Managed Co-Lending Portfolio Program (MCPP).

In a disclosure on its website, IFC said the proposed investment is to support
Airtel Africa<\/a>’s network investment across seven subsidiaries as well as refinancing its existing loans. “IFC will support the (Airtel<\/a> Africa) project with a debt package of upto $150 million from its own account and upto $44 million in mobilisation from MCPP funds,” the World Bank’s private sector arm said.

Airtel Africa did not respond to ET's queries as of press time.

The IFC funding will support Airtel Africa’s capex and loan refinancing needs in seven key markets -- Kenya, Chad, Democratic Republic of Congo, Madagascar, Niger, Republic of Congo and Zambia.

Bharti’s Africa unit, which has seen a strong business resurgence in recent years, was made part of the FTSE 100 Index in end-January. The company completed its first full year of profitability in FY18, marking a turnaround from previous years when losses had mounted every quarter, dragging down consolidated numbers and had even cast a doubt on Bharti’s strategy of entering into the continent back in 2010. Airtel Africa Plc was listed on London Stock Exchange in late-June 2019.
\"Airtel’s<\/a><\/figure>

Airtel’s enterprise revenue, valuation likely to grow: Analysts<\/a><\/h2>

“Our comparison of Bharti’s enterprise services with closest competitor Tata Communications (TCom) reveals Bharti’s revenue is 1.3x and Ebitda higher by 1.5x. Further, over 9MFY22 Bharti’s enterprise revenue growth of 11% YoY is against flat data revenue for Tata Communications,” CLSA said in an analysis note.<\/p><\/div>