Smile Telecoms Holdings, an African telecommunications group, announced that its RP (Restructuring Plan) has been approved and agreed with the lenders.

Smile Telecoms has operations in Nigeria, Uganda, Tanzania, and the Democratic Republic of the Congo.

This debt restructuring plan sees an injection in fresh money funding from Al Nahla, Smile’s majority shareholder, and rescheduling on debt repayment until post-March 2022.

The fresh injection of $51 million in funding for Operations will further enhance Smile’s position in its respective markets and energize Smile’s operations and support efforts towards achieving better performance.