World Bank plans $150M Airtel Africa expansion in Congo, Kenya

World Bank Group, through its private sector arm, International Finance Corporation (IFC), is planning a $150 million financing package for Airtel Africa Plc, the pan-African telecommunications provider majority-owned by Indian billionaire Sunil Bharti Mittal, to expand telecom networks and refinance debt in the Democratic Republic of Congo and Kenya, two of Africa’s fastest-growing digital markets.

The proposed funding includes a $50 million A Loan and $100 million equivalent in local currency to support network expansion, improve connectivity, and strengthen infrastructure. The investment underscores rising demand for mobile data and digital financial services across underserved African markets.

IFC deepens support for Airtel Africa

The financing builds on IFC’s previous investments in Airtel Africa and reflects continued institutional backing for Africa’s telecom sector. IFC’s board is expected to review the proposal on June 18, 2026. If approved, the financing will strengthen Airtel Africa’s expansion strategy in two high-growth markets.

The package is designed to support capital expenditure, strengthen balance sheets, and improve long-term funding access in markets where local currency financing remains limited.

Expansion targets digital demand growth

The investment will support expansion of network coverage and capacity in Congo and Kenya, improving service quality and customer experience.

Demand for mobile data and digital financial services continues to rise rapidly across Africa, driven by increasing smartphone adoption and limited traditional banking access.

Mobile money remains a key growth driver, particularly in underserved markets where telecom infrastructure plays a critical role in financial inclusion.

Why the investment matters

The proposed financing highlights growing global investor interest in Africa’s digital infrastructure sector, which is increasingly seen as essential to economic development.

Expanded telecom networks in Congo and Kenya are expected to improve internet access, boost mobile banking adoption, and enhance business connectivity.

The transaction also aligns with IFC’s broader strategy of supporting large-scale infrastructure projects across emerging markets.

Outlook for Airtel Africa

Airtel Africa operates in 14 countries across Sub-Saharan Africa and serves over 150 million subscribers, providing mobile voice, data, and mobile money services. Its majority shareholder, Bharti Airtel, held a 62.7% stake as of March 2026.

The company has also built out subsea and terrestrial fiber networks through Airtel Telesonic to connect its data centers to global internet routes. Mittal, whose Bharti Enterprises controls Indian telecom giant Bharti Airtel Ltd. and satellite operator OneWeb, has a net worth of more than $25 billion, according to the Bloomberg Billionaires Index.

Telecom operators across Africa continue to ramp up investment in network modernization and digital services to capture rising demand and expand market share.