16 July 2025
The African Continental Free Trade Area (AfCFTA) Adjustment Fund has announced the successful closing of its first major investment, committing US$10 million to Telecel Global Services, a provider of wholesale voice, SMS, and enterprise connectivity solutions. The transaction, executed through a senior secured amortising loan, represents a significant milestone in the operational realisation of the Fund.
The Credit Fund is one of three distinct funds established under the broader AfCFTA Adjustment Fund initiative, which was created by the AfCFTA Secretariat in partnership with the African Export-Import Bank (Afreximbank). Its mission is to deliver targeted transitional support to AfCFTA member states and private sector entities, helping them adapt to the evolving landscape created by the trade agreement.
Since its entry into force on 30 May 2019, the AfCFTA aims to unify all 55 member states of the African Union into a single market of over 1.3 billion people. The agreement encompasses a wide array of critical economic sectors, including digital trade and investment protection, with the overarching goal of boosting intra-Africa commerce — particularly in value-added goods and across all services sectors — by removing trade barriers.
Telecel Global Services, a subsidiary of Mauritius-based Telecel Group, serves over 250 telecom operators across Africa and internationally, providing wholesale voice and SMS services alongside enterprise connectivity solutions. The new facility is set to support Telecel’s expansion efforts in Ghana and Liberia, enhance its infrastructure, and contribute to narrowing Africa’s digital divide by fostering greater connectivity and digital inclusion.
AfCFTA states that this investment will help bridge underserved markets, promote cross-border productivity, and facilitate inclusive industrial development. The Fund intends to prioritise financially sustainable investments that enable trade growth, support economic diversification, and align with the broader objectives of AfCFTA’s implementation agenda, ultimately driving regional integration and inclusive growth across the continent.
