Econet is a telecommunication Group with operations, investments and offices in more than 15 countries. The Group’s activities include mobile cellular telephony, fixed networks, enterprise networks, fiber optic cables, and satellite services. Econet also provides payment solutions to banks across Africa. Econet’s Zimbabwean activities – Econet being the leading Zimbabwean telecom operator with a market share of c. 65% – represent more than 70% of the Group’s business, whilst the remaining it majorly composed by the fiber optic business (Liquid Telecom).
In the past years, Econet has expanded its operations from being mostly a voice and international traffic provider to being an integrated telecoms operator, with products and services spanning from voice & data to mobile money and the largest cross-border fiber infrastructure in Africa.
Role and added value of Amethis
Amethis participated to a US$150m syndicated facility arranged by Afreximbank acting as global coordinator and manadated lead arranger, whilst DEG acting as co-arranger mobilized funding from a pool of European DFIs. This syndication is part of a multi-creditor security sharing agreement coordinated and arranged by Afreximbank which closed in May 2012.
This transaction is in line with Amethis’ unique business model: supporting a pan-African champion in its regional expansion with a strong focus on ESG impacts. In addition, Amethis will further support the Group’s development in the long run, especially in the following areas:
- Mobile banking in Zimbabwe and across Africa
- Fiber optic business expansion
The Group has strong environmental and social commitments, including the development of an Environmental and Social Management system.