BOAD supports the establishment of a new telecom network in Mali

Logo BOADLomé, 15 April 2015. A loan contract for the establishment of a new telecom network in Mali was signed by and between Mr. Christian Adovelande, President of the West African Development Bank (BOAD), and Mr. Appolinaire Compaoré, Chairman of the Board of Directors of Alpha Télécommunication Mali (ATEL Mali).  In an amount of XOF10 billion, the Bank’s financial support will be used specifically for financing purchase of equipment meant for network rollout and development of a third global telecom license in Mali assigned to ATEL Mali. Mr. Christian Adovelande stated that this operation follows from BOAD’s role in mobilizing resources for the acquisition of the company’s license.

On behalf of the Chairman of the Board of Directors, Mr. Dimitri Ouedraogo, Managing Director of TELECEL FASO (member of both Planor Group and ATEL Mali) thanked BOAD for its invaluable support. “As from the first year of operations, he said, it is over 5,000,000 people who can have access to a state-of-the-art communication network and high-speed internet connectivity. The telecom network rolled out will be used as support for developing electronic payment services, thereby increasing use of banking facilities”.

As part of its 2015-2019 strategic plan, BOAD intends to increase its support to ICT projects by financing the development of regional integrated high speed communication networks. It will also support mobile telephone projects at regional level. The loan extended to ATEL Mali was the Bank’s third financial assistance to the telecom sector in Mali. It brought the total amount of BOAD’s commitments to the country’s private sector to XOF128.236 billion.

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