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50.0 million (USD)

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	50.0
Equity

* These investment figures are indicative

The Project is considered an extension of IFC’s 2024 participation in the ZAR Term Loan. The projects jointly aim to increase the broadband capacity in target countries, resulting in improved access to quality connectivity for individuals and businesses by refinancing the Company’s existing debts, thereby freeing up cash for the Company’s capex program. Beyond the Company, the projects seek to deepen the resilience of the broadband market in the Africa region by better equipping a crucial player in the broadband market to manage external shocks.

IFC’s additionality is primarily financial and derives from resource mobilization, consistent with IFC’s participation in the ZAR Term Loan. IFC will anchor the up to US$350 million Eurobond issuance and mobilize other investors beyond its own contribution, thereby helping the Company to fully refinance its maturing Eurobond.

Project 51146 is a repeat project and an extension of Liquid ZAR Term Loan II (Project 50085). Consistent with the repeat project framework, the development result would continue to be tracked through Project 50085.

This proposed investment has limited environmental and social risks and impacts, which are generally site-specific and largely reversible. Thus, this is a Category B project in accordance with IFC’s Policy on Environmental and Social Sustainability. The key E&S issues associated with this investment include (i) adequate implementation of the company's occupational health and safety management procedures especially by third-party companies; (ii) assurance of fair, safe and healthy working conditions for contractors in the various country projects, including workers security and retrenchment management; and (iii) community health, safety and security.

Please refer to the related Environmental and Social Review Summary (ESRS) document for this project.