Smile Telecoms raises $365M from African investors to expand broadband coverage across the continent

Smile Telecoms plans to grow its broadband network in Africa after raising $365 million in debt and equity financing.

The Mauritius-based company, which already operates LTE networks in Nigeria, Tanzania, and Uganda, says it will launch in the Democratic Republic of Congo early next year.

Smile Telecoms is unrelated to Smile Group, a digital holding company based in India.

Smile Telecoms’ new funding will help it build its infrastructure and compete against rivals such as MTN, Airtel, Telefonica, and Orange. Its existing LTE networks will expand to match the coverage of Smile Telecoms’ 3G networks by the end of this year.

Read more: Smile Telecoms Raises $365M To Expand Its Broadband Coverage In Four African Countries | TechCrunch