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Smile Raises $365 Million for African Wireless Expansion

  • National 4G coverage in Nigeria, Tanzania, Uganda this year
  • Targeting 1 million mobile broadband customers before 2017
Updated on

Smile Telecoms Holdings Ltd., which offers wireless Internet access in Nigeria, Tanzania and Uganda, raised $365 million in debt and equity financing to develop faster connections and extend broadband services to the Democratic Republic of Congo.

The Port Louis, Mauritius-based company plans to increase the number of its African broadband customers by more than 10-fold to 1 million before 2017, Chief Executive Officer Irene Charnley said in an interview on Tuesday. She declined to disclose Smile’s revenue.