Standard Bank, Africa's largest bank by assets and market capitalisation, is proud to have partnered with Helios Towers (HT) to provide a $29m Social Documentary Credit Facility. This transaction marks Standard Bank's first Documentary Credit Facility structured in a Sustainable Finance format.
The facility will support the procurement and importation of telecommunications infrastructure and related services across Africa. It will also provide payment certainty to their suppliers, while supporting HT working capital requirements and infrastructure expansion programme.
Structured in accordance with the Loan Market Association's Social Loan Principles, the financing is designed to promote digital connectivity and telecommunications infrastructure development in underserved markets, helping HT further expand its footprint and enhance mobile network coverage and connectivity across the continent.
HT operates one of Africa's leading independent telecommunications tower platforms, enabling mobile network operators to extend coverage efficiently across multiple markets. The facility supports the expansion of tower infrastructure and services, increased network densification and improved connectivity in underserved markets and remote regions across the African continent. Driving digital inclusion and tackling the digital divide while supporting economic growth and socio-economic development.
Originally published by African Business.