Amsterdam — Celtel International, previously known as MSI Cellular and Africa's leading mobile phone group operating in 12 countries with over 2.5 million customers, has completed a $62 million equity-fund raising programme.
A private equity fund managed by Capital International, part of the global Capital Group, was the lead investor contributing some $38 million. FMO, the Netherlands Development Finance Company, with $15 million and Blakeney Management with $9 million were the other major investors. This takes the total equity Celtel has raised for investment in African telecoms to over $300 million.
Mo Ibrahim, Founder and Chairman, commented:
"I am delighted to welcome a prestigious investor of Capital's status and to have further backing from FMO and Blakeney. Capital is the largest private equity investor in emerging markets and their support recognises our success and endorses our strategy, business approach and prospects. Our equity base has been substantial strengthened for the next stage in our development."
Marten Pieters, Chief Executive, added:
"The combination of these additional funds with our pan-African Celtel brand, which we are relaunching today, provides us with an excellent platform for our ambitious plans to grow both organically and by acquisition; to achieve our mission of being the most successful Pan-African telecommunications company."
Enquiries:
- Celtel International: Marten Pieters, Chief Executive Officer +31 (0) 23 554 26 37
- College Hill: Adrian Duffield/Corinna Dorward +44 (0) 20 7457 2020
Note to Editors
Celtel International is Africa's leading communications operation, with mobile networks in 12 countries - more than any other operator. Some 2.5 million customers are connected to Celtel, a number which is growing at nearly 100% per annum.
Celtel operates in Burkina Faso, Chad, Democratic Republic of Congo, Gabon, Malawi, Niger, the Republic of Congo, Sierra Leone, Tanzania, Uganda and Zambia. Celtel is a major shareholder in mobile network operator, Mobitel (Sudan), and was a founding shareholder and minority partner in Vodafone Egypt. It is involved in major fixed-line operations in Tanzania and Sudan.
Celtel has been a lead investor across Africa as governments and regulators have liberalised their respective telecommunications industries. Over the past five years Celtel has invested over $750 million to build the business.
Capital International mange private equity funds for investment in emerging markets. Part of the global Capital Group, which has more than $700 billion funds under management, Capital is the largest private investor in emerging markets.
FMO, the Netherlands Development Finance Company, supports companies and financial institutions in developing countries with loans, equity investments, guarantees and other investment promotion activities. With an investment portfolio of EUR 1.9 billion and more than 200 employees, FMO is one of the largest bilateral development banks worldwide.
Blakeney Management is the independent London-based specialist emerging markets investment firm.
Existing major shareholders in Celtel International include:
* CDC Capital Partners, the UK Government owned investor in emerging markets, with over US$1.5 billion invested in some 50 emerging countries.
* IFC (International Finance Corporation) the private sector arm of the World Bank and the largest source of private equity for developing countries.
* AIG Infrastructure Fund sponsored by AIG and managed by EMP, the largest private equity infrastructure manager in emerging markets with nearly US$5 billion under management.
* Zephyr Asset Management, the US based emerging market fund.
* Citigroup, the global financial services group.
* Bessemer Venture Partners, the investment arm of one of the oldest funds in the USA.
* Palio, the Swiss technology investment company.
* DEG, the German development institution.
* Old Mutual Asset Management in South Africa
