MTN Benin has signed a CFAF 75 billion loan from a consortium of banks including Societe Generale Benin through its structured finance platform, Structured Finance Group (“SFG”).
The pool of banks participating in the loan includes Bank Of Africa Benin – Diamond Bank SA – Orabank Benin (Obbe) – Ecobank Benin – African Bank for Industry and Commerce (Baic) – Banque Populaire for Savings and Credit (Bpec) – Bsic Benin Sa.
The CEO of the company, Stephen Blewett, welcomes these competitions spread over a maturity of 7 years. “This is the largest loan ever granted in the telecom sector in Benin,” he said. The amount will be invested in improving the quality of the services for the good of the customers. .
The loan facility of 75 billion CFA francs has a repayment term of seven years. MTN Benin plans to invest part of this sum in improving the quality of its services and products.