Smile Telecoms Holdings Limited has obtained $365 million fund from a number of sources in order to finance debt and equity.
The fourth generation long-term evolution ($G TTE) broadband provider obtained $315 million from a number of companies which include Ecobank Nigeria, Diamond Bank PLC, African Export-Import Bank with Industrial Development Corp, Standard Chartered Bank, Development Bank of Southern African and the PIC. The company also raised another $50 million received in equity from Government Employees Pension Fund of South Africa.
According to the Chief Executive Officer (CEO) of the company, Irene Charnley, the fund would be used by the company to finance a number of project including the completion of a multi-protocol label switching network, building of international back-haul services and establishment of a network point of presence in the capital city of England, London. He also mentioned that a portion of the fund would be used to for the operational expenditure as well as the requirements for the working capital.
Smile Telecoms Holdings Limited owns and provides 4G LTE broadband networks in Uganda, Nigeria and Tanzania with 800MHz frequency. Charnley mentioned that with the availability of fund, the company would be able to provide superior and super-fast internet and voice services covering the entire nation.
He said that the company aimed at ensuring that the consumers of their services obtained the full benefit and rewarding experience of the high speed mobile broadband services. Included in the priority of the company as mentioned by Irene is the development of strategies of managing the superior experience effectively with particular reference to data consumption.
The company, which was launched in 2007 by Irene Charnley, the former MTN Executive, has plan to extend its broadband network services to Democratic Republic of Congo.
The company is aiming at becoming a leader in the industry by providing unbeatable and unequalled voice services as well as broadband data predicated on unforgettable customer experience.
