Smile Telecoms is a pan-African telecommunications provider that owns and operates mobile wireless 4G LTE broadband networks in the 800 MHz band in Nigeria, Tanzania and Uganda. Smile’s shareholders now comprise: Al Nahla Group, a Saudi Arabia-based company, which is the majority shareholder; Renven Investment Holdings, a pan-African investment vehicle, in which Nigerian investors, including the Obijackson Group, are the majority; Verene, representing Smile senior management and social entrepreneurs from South Africa; Telecom Investments, a Saudi Arabian-based investment company; Capitalworks, an active alternative management company, specialising in investment in the African mid-market; the PIC; and Smile employees.
Recently, Smile Telecoms raised USD365 million of debt and equity financing to accelerate its 4G LTE network expansion into Africa. This is one of the largest capital raises ever for a telecommunications operator in Africa. We are very happy about it. For the management staff and for the business, this is a very great feat.
