Smile Telecoms gets restructuring plan greenlight

Smile Telecoms gets restructuring plan greenlight

Pan-African telecommunications group, Smile Telecoms, has announced that its debt restructuring plan, has been approved and agreed with the lenders.

According to a statement, the debt restructuring plan sees an injection in fresh money funding from Smile’s majority shareholder, Saudi Arabia based Al Nahla Group, and also 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 the company’s operations and support efforts towards achieving better performance.

Smile Telecoms has operations in Nigeria, Uganda, Tanzania, and the Democratic Republic of the Congo.