Lonestar Cell inks USD25m syndicated loan to support network rollout/upgrade

18 Jun 2013

Mobile operator MTN Liberia (Lonestar Cell) has secured a syndicated loan worth USD25 million with a group of financial institutions comprising the United Bank of Africa, Liberia Bank for Development and Investment, Guaranteed Trust and Ecobank Liberia Limited. Monrovia-based newspaper The New Dawn says the funds will be used to support the cellco’s ongoing network rollout and upgrade programme across Liberia.

According to TeleGeography’s GlobalComms Database, in December 2012 Lonestar Cell announced improvements to its mobile network infrastructure in the African country, deploying new towers to improve connectivity in border areas. The cellco, a subsidiary of South Africa-based regional mobile operator MTN Group, installed a new 55m tower in Salaye (Lofa County), replacing the previous 20m mast, to improve and extend connectivity to surrounding towns and villages. Meanwhile, a new site was added in Zamie (Rivercess County) with the deployment of a 55m tower to serve that region’s mining communities. More recently, in February this year the carrier launched three new services for its customers – Recharge-4-Otherz, Internet Dash and SMS-Unlimited. Internet Dash allows subscribers to use their phone to buy an internet bundle he said, while SMS-Unlimited, enables customers to purchase an unlimited SMS package for a given period – either daily (USD1), weekly (USD2) or monthly (USD5).

Liberia, Lonestar Cell-MTN