PROJECT

Projects

Environmental & Social Review Summary

Project Number

46232

Company Name

ITISSALAT AL MAGHRIB

Date ESRS Disclosed

Jun 23, 2023

Country

Africa Region

Region

Africa

Last Updated Date

Sep 2, 2025

Environmental Category

B - Limited

Status

Active

Previous Events

Approved : Jul 27, 2023
Signed : May 21, 2025
Invested : Jul 30, 2025

Sector

Mobile Telephony

Industry

Telecommunications and Technology

Department

Regional Industry - INF Africa

Project Description

 Maroc Telecom (“MT” or the “Sponsor”) is a mobile network operator (“MNO”) headquartered in Morocco with subsidiaries in other ten African countries (altogether named “Moov Africa” or “MA”) and listed on the Casablanca and Paris Stock Exchanges. Moov Africa provides mobile (voice and data), fixed line, internet, and mobile banking services across the ten countries. MT, a State-Owned Enterprise (“SOE”), has been an IFC client since March 2019 through MA Tchad.

IFC is looking to provide separate corporate loans to eight out of MT’s ten subsidiaries (hereinafter referred to as “subsidiaries”) through debt facilities for a combined total of up to EUR375 million comprising A loans of up to EUR234 million and mobilised funds of up to EUR141 million. The loans will be structured through separate direct loan agreements with each of the eight subsidiaries, namely MA Benin, MA Burkina Faso, MA Côte d’Ivoire, MA Gabon, MA Mali, MA Niger, MA Tchad, and MA Togo to refinance existing debt and fund maintenance and expansionary capital expenditure. Each subsidiary is responsible for the design, construction, operation, and environmental and social (“E&S”) performance of its facilities and operations.

This Environmental and Social Review Summary (“ESRS”) summarizes IFC’s E&S due diligence of MA’s eight subsidiaries mentioned above. 

Overview of IFC's Scope of Review

 IFC’s review of this proposed investment was undertaken between July 2022 and April 2023 and included: (i) review of E&S-related information and documents submitted by the subsidiaries, including technical details about the operations, the E&S policies and procedures, and human resources (“HR”) management procedures; (ii) site visits to all eight subsidiaries and walk-through to selected tower sites and operational facilities; (iii) on-site discussions with the senior management of each subsidiary; and (iv) limited interviews with community members around some tower sites. Each MA subsidiary conducted biodiversity risk screening of existing and planned tower locations against known protected areas and internationally recognized areas using data and guidance from IFC.

E & S Project Categorization and Applicable Standard

Environmental and Social Mitigation Measures

Stakeholder Engagement

Broad Community Support

Environmental & Social Action Plan