FMDQ APPROVES TELEAFRICA’S N3.31BN CP QUOTATION

The FMDQ Exchange has approved TeleAfrica’s N3.31 billion Commercial Paper (CP) quotation, marking another significant milestone for the telecommunications infrastructure provider in accessing the Nigerian capital market.

The short-term debt instrument is expected to support TeleAfrica’s ongoing expansion of broadband and digital infrastructure across the country. The approval underscores growing investor interest in the tech and telecom sector amid rising demand for reliable connectivity.

TeleAfrica’s management expressed appreciation for the regulator’s swift approval, noting that the proceeds will fund critical projects aimed at bridging Nigeria’s digital divide.

Market analysts view the development as positive for the company’s growth trajectory and a testament to the attractiveness of well-structured corporate debt instruments in the current market environment.

The quotation is expected to provide TeleAfrica with flexible, cost-effective financing while offering investors competitive returns in the short term.