Free Senegal secures XAF25bn syndicated loan

Telecoms group Saga Africa Holdings Limited, which operates the Free brand in Senegal, has secured a medium-term syndicated loan of XAF25 billion (USD37.8 million) from a pool of banks led by Oragroup. In a statement, the banking group noted the funding will enable Free to refinance its debt and implement its ambitious investment programme, which focuses on the continued modernisation of the LTE-A (‘4G+’) network, the deployment of its very high speed fibre fixed broadband services for residential and business customers, as well as increase its presence in the mobile money sector.