In a groundbreaking move that signals the operational rollout of the African Continental Free Trade Area (AfCFTA) Adjustment Fund, a senior secured amortising loan worth $10 million has been granted to Telecel Global Services Ltd. This is the Credit Fund’s first official transaction, marking a major milestone in supporting private sector growth and digital infrastructure across Africa.
The AfCFTA Adjustment Fund, developed by the AfCFTA Secretariat in collaboration with the African Export-Import Bank (Afreximbank), was created to help both state and non-state actors adapt to the evolving opportunities and challenges brought by the continental free trade agreement. Among its three core components, the Credit Fund aims to provide targeted transitional financing for projects that enhance Africa’s economic integration, with this investment serving as a launchpad.
The beneficiary, Telecel Global Services, is a key player in Africa’s digital connectivity sector. A subsidiary of Mauritius-headquartered Telecel Group, the firm provides wholesale voice, SMS services, and enterprise connectivity to over 250 telecommunications operators across Africa and globally. The $10 million loan will enable Telecel to expand its operations into Ghana and Liberia, further strengthening the digital infrastructure backbone critical to regional trade and business growth.
This move is expected to accelerate Africa’s push to bridge its digital divide, facilitate trade across borders, and improve productivity through efficient digital solutions—all central to the AfCFTA’s goal of promoting intra-African commerce.
Jean-Louis Ekra, Chairman of the AfCFTA Adjustment Fund Corporation, lauded the investment as a “historic breakthrough”. He noted that such targeted support helps build resilience, stimulates private sector innovation, and unlocks Africa’s untapped development potential.
“This transaction sets the tone for what the AfCFTA Adjustment Fund aims to achieve—strategic, impactful investments that push the continent closer to its vision of a unified economic bloc,” Ekra said.
AfCFTA Secretary-General Wamkele Mene echoed similar sentiments, emphasizing that investments in digital infrastructure are critical for achieving trade facilitation, industrialisation, and regional value chain development. According to Mene, “This isn’t just financial support; it is a strong commitment to building the core systems that will drive Africa’s transformation.”
From the financier’s side, Afreximbank President Prof. Benedict Oramah described the deal as a “bold step” towards achieving the structural transformation necessary for Africa’s long-term competitiveness. “Digital infrastructure is a cornerstone of modern economies. This investment will not only aid trade but drive innovation, job creation, and inclusive growth,” Oramah said.
Marlene Ngoyi, CEO of FEDA—the Fund Manager of the AfCFTA Adjustment Fund—highlighted the deal’s alignment with the fund’s strategy to support high-impact sectors. “Our investment in Telecel is part of a larger mission to foster digital trade and seamless connectivity across Africa. It supports our long-term vision for an integrated, inclusive, and diversified African economy,” she stated.
This $10 million investment is expected to catalyse additional private capital and donor funding into sectors critical to the AfCFTA agenda. With Africa’s digital economy projected to reach over $180 billion by 2025, investments like this could shape the trajectory of inclusive trade and innovation-led development.
The Credit Fund intends to continue identifying and financing commercially viable projects that enable trade, promote cross-border collaboration, and drive sustainable growth.
As AfCFTA implementation gains traction, the Adjustment Fund’s debut signals a new era of strategic financing tailored to Africa’s unique development pathway—where the private sector leads and digital infrastructure forms the backbone of regional economic integration.