In a landmark move that signals the operational takeoff of the AfCFTA Adjustment Fund, the Credit Fund has completed its first transaction with a US$10 million senior secured amortising loan to Telecel Global Services Ltd. 

The investment marks a pivotal step toward supporting digital infrastructure development and intra-African trade under the African Continental Free Trade Area framework.

As one of the three components of the AfCFTA Adjustment Fund, the Credit Fund was established by the AfCFTA Secretariat in collaboration with the African Export-Import Bank (Afreximbank) to provide targeted transitional financing for AfCFTA State Parties and private sector players adjusting to the evolving demands and opportunities of the continental trade agreement.

Telecel Global Services, a subsidiary of Mauritius-based Telecel Group, delivers wholesale voice and SMS services and enterprise connectivity solutions to over 250 telecom operators across Africa and globally.
 
This funding will drive the company’s expansion into Ghana and Liberia while reinforcing critical digital infrastructure. The investment aligns with AfCFTA’s broader agenda of bridging the continent’s digital divide, facilitating trade integration, and boosting productivity across borders.

Chairman of the Board of the AfCFTA Adjustment Fund Corporation, Jean-Louis Ekra described the deal as a historic achievement for the Fund. 

He emphasised that the transaction exemplifies how strategic investments can accelerate connectivity, stimulate intra-African trade, and empower the private sector to drive development in priority sectors.
 
Ekra reiterated the Fund’s commitment to financing initiatives that enhance economic resilience and unlock Africa’s untapped potential.

Secretary-General of the AfCFTA Secretariat, Wamkele Mene, stressed that the investment demonstrates the fund’s intended role in making the trade agreement practically impactful for State Parties and businesses. He underscored the importance of digital infrastructure in enabling trade facilitation, industrialisation, and the development of regional value chains.

Prof. Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, hailed the transaction as a bold step towards transforming Africa’s economic landscape.

He reaffirmed the bank’s dedication to supporting African enterprises as they retool and expand operations to leverage the opportunities presented by AfCFTA. According to Oramah, strengthening digital connectivity is not only vital for trade but also central to long-term structural transformation.

CEO of FEDA, the Fund Manager of the AfCFTA Adjustment Fund, Marlene Ngoyi highlighted that the investment reflects the credit fund’s strategic focus on sectors key to Africa’s structural change. She lauded the partnership with Telecel as a step toward fostering digital trade and connectivity that enhances the continent’s economic integration.

Looking ahead, the Credit Fund will continue to pursue commercially viable investments that enable trade, encourage economic diversification, and promote inclusive growth, in line with the overarching goals of the AfCFTA implementation agenda.