Smile Telecoms Holdings Enters New Era with Approved Restructuring Plan – Fresh Money

PUBLISHED: Thu, 01 Apr 2021 10:16:55 GMT
Share

Content provided by APO Group. CNBC Africa provides content from APO Group as a service to its readers and does not edit the articles it publishes. CNBC Africa is not responsible for the content provided by APO Group.

Smile Telecoms Holdings Ltd. (www.Smilecoms.com), a Pan-African telecommunications group with operations in Nigeria, Uganda, Tanzania, and the Democratic Republic of the Congo, announced today, March 30th 2021 that its RP (Restructuring Plan) 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 $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.

Distributed by APO Group on behalf of Smile Telecoms Holdings Ltd.

Sign Up for Our Newsletter Daily Update

Get the best of CNBC Africa sent straight to your inbox with breaking business news, insights and updates from experts across the continent.
Get this delivered to your inbox, and more info about about our products and services. By signing up for newsletters, you are agreeing to our Terms of Use and Privacy Policy.

By:
Nicolene van Zyl
Group Head: Corporate Communications and Marketing
Email: nicolene.vanzyl@smilecoms.com
Smile Telecoms Holdings Ltd
www.Smilecoms.com

About Smile Telecoms Holdings Ltd:
Founded in 2007, with its head office in England, Smile Telecoms Holdings Ltd is a Pan-African telecommunications group with operations in Nigeria, Tanzania, Uganda and the Democratic Republic of the Congo, and South Africa. The company has one of the largest sub-1 GHz 4G LTE commercial networks in Africa, operating in the “future proof' low band, 800 MHz band, and mid-band.

Smile was the first to launch VoLTE on its network and continued its innovation, introducing SmileVoice, a free mobile app. SmileVoice enables customers with any Android or Apple iPhone device (including those which are not VoLTE-enabled) to make SuperClear voice calls over Smile's 4G LTE network. Smile was also the first to introduce an Unlimited offering, which enables SuperFast data and SuperClear voice, all on one bundle.