The Africa Credit Opportunities Fund (ACOF) has invested $20 million in Telecel Group to expand its presence in West Africa and improve digital access across the continent.
The CEO of Telecel Group, Moh Damush, sees the investment as a vote of confidence in the company’s growth potential and its commitment to fostering an inclusive digital economy in Africa.
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This investment was facilitated by ACOF, a collaboration between Gateway Partners and the Fund for Export Development in Africa (FEDA). Telecel Group, which acquired a 70% stake in Vodafone Ghana, is planning a rebranding by the end of February to enhance its market position and operations.
Andrew Bainbridge, CEO of ACOF, highlighted the financial opportunities and the broader significance of the investment in advancing digitalization and e-commerce across the continent.
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