According to Premiumtimesng, Smile Communications Ltd. a Pan-African telecom industry operating in Nigeria, Uganda, Tanzania, and the Democratic Republic of the Congo, on Wednesday announced the approval of its debt restructuring plan.
The telecom company founded around 2007, with its head office situating in England, Smile Telecoms also operates in South Africa as well. The company has one of the largest sub-1 GHz 4G LTE commercial networks in Africa, operating in the “future proof’ low band, 800 MHz band, and mid-band.
The debt restructuring plan sets in a new fresh money funding from the company’s majority shareholders. However, the rescheduling on debt repayment has been scheduled till post-March 2022.
Smile said a in statement “the injection fund of $51 million for operations will further enhance our position in the respective markets and further energize Smile’s operations and it’s efforts towards achieving better enhanced performance”.
The fresh injection of $51m in funding for Operations will further enhance Smile’s position in its respective markets.PremiumtimesNG
Smile was the first to launch VoLTE on its network and continued its innovation, where it later introduced its SmileVoice app for android and iOS devices which enables customers with any Android or Apple iPhone device (including those which are not VoLTE-enabled) to make SuperClear voice calls over Smile’s 4G LTE network.