The International Finance Corporation (IFC) is among a group of debt investors that will fund Axian Telecom’s acquisition of Kenya’s Wananchi Group.
The global financier will be the lead investor in a $550 million bond to be issued by Mauritius-based Axian, with part of the proceeds earmarked for buying out telecoms and entertainment firm Wananchi. IFC intends to invest $75 million (Sh9.6 billion) in the bond.