CORPORATE GOVERNANCE

Smile Telecoms Holdings Enters New Era With Approved Restructuring Plan In Fresh Money

27views

From Cyber Era Reporter

A Pan-African telecommunications group with operations in Nigeria, Smile Telecoms Holdings Ltd., Uganda, Tanzania, and the Democratic Republic of the Congo, March 30, 2021  announced that its  Restructuring Plan(RP)  has been approved and agreed with the lenders.

This debt restructuring plan sees an injection in fresh money funding from Smile’s majority shareholder, the Al Nahla, and rescheduling on debt repayment until post-March 2022.

The fresh injection of US$51m in funding for Operations will further enhance Smile’s position in its respective markets and energize Smile’s operations and support efforts towards achieving better performance.

Leave a Response