ADB loans Roshan USD55 million

14 Aug 2008

The Asian Development Bank (ADB) has announced that it will provide a USD55 million loan to Afghani cellco Telecom Development Company Afghanistan (TDCA, but more commonly known by its brandname Roshan) to fund its network expansion plans. The loan will also support the roll out of a mobile banking service that will be designed specifically for those without traditional bank accounts. The total cost of the expansion is expected to top USD175 million, which will include roll out into new districts, the upgrade of existing equipment and the conversion of some base stations to solar power. The balance of the funding will come from the company’s shareholders; Roshan is owned by the Aga Khan Fund for Economic Development (AKFED, 51%), Monaco Telecom International (36.75%) and TeliaSonera (12.25%).

Roshan began operations in 2003 and has a network that covers more than half the Afghani population. It claimed two million subscribers at the end of June.

Afghanistan, Roshan