Investment Corporation Finances Maroc Telecom's $430 Million 4G Network Expansion in Chad and Mali
Partnership Between IFC and Maroc Telecom to Boost 4G Mobile Infrastructure in Chad and Mali
The International Finance Corporation (IFC) and Maroc Telecom have announced a strategic partnership to expand 4G mobile infrastructure in Chad and Mali. The partnership involves a financing package totaling USD 430M (EUR 370M) to improve mobile network coverage, internet quality, and digital connectivity [1][2][3].
Founded in 1956, IFC has been operational for over six decades, extending its operations to more than 100 countries [4]. Maroc Telecom, a major telecom operator based in Rabat, Morocco, is not solely owned by the Kingdom of Morocco. UAE-based e& holds a 53% stake, the Kingdom of Morocco owns 22%, and the remaining 25% is publicly traded on the Casablanca and Paris stock exchanges [5].
This partnership is expected to have several key impacts:
- Job creation: The infrastructure buildout and ongoing network operations will generate employment opportunities directly in telecom construction, technical services, and indirectly by enabling new digital businesses and services in Chad and Mali [1].
- Innovation: By enhancing mobile internet access and quality, the 4G rollout will foster digital innovation, enabling startups, fintech, e-commerce, and other tech sectors to grow through better connectivity and more reliable data services [1][3].
- Bridging the digital divide: The improved 4G network coverage targets broader population segments, helping narrow the gap in digital access between urban and rural or underserved areas. This aligns with wider goals of digital inclusion and economic development [1].
Mohamed Benchaaboun, CEO of Maroc Telecom, stated that the partnership will strengthen network coverage and improve service quality, enabling widespread 4G adoption [6]. The partnership emphasizes the central role of mobile data in internet access and the importance of 4G for this access [7].
Makhtar Diop, IFC Managing Director, stated that this partnership supports innovation, skills development, and job creation across Africa [8]. The partnership is in line with Africa's priorities to open doors to innovation, skills development, and job creation [9].
The IFC, as part of the World Bank Group, focuses on private sector investments that generate sustainable development impact, supporting this telecom expansion project as part of that mandate [1]. Maroc Telecom, in addition to this partnership, is also advancing 5G technology in Morocco itself, reflecting its broader regional digital transformation role [4][5].
In summary, the IFC-Maroc Telecom partnership is a strategic investment to scale mobile internet infrastructure in Chad and Mali, which will stimulate economic development via job creation, promote innovation ecosystem growth, and reduce the digital divide by expanding affordable and reliable 4G connectivity [1][3].
[1] IFC.org [2] MarocTelecom.ma [3] WorldBank.org [4] Reuters.com [5] Arabafternoon.com [6] MarocTelecom.ma [7] IFC.org [8] IFC.org [9] Africa.com
- This strategic partnership between the International Finance Corporation (IFC) and Maroc Telecom, involving a financing package worth USD 430M, will not only improve digital connectivity in Chad and Mali but also foster innovation in the finance, technology, and other sectors by enhancing mobile internet access and quality.
- As part of its focus on private sector investments that generate sustainable development impact, the IFC is supporting this telecom expansion project, which will not only boost 4G mobile infrastructure but also stimulate job creation and foster technological advancements in the industry and finance domains in Chad and Mali.
