Smile Telecoms avoids shutdown, securing R550m to recapitalise its business

New money will fund the business in 2022, but questions remain about possible financial trouble ahead

Smile Telecoms, an Africa-focused broadband provider founded by former trade unionist Irene Charnley, says its has secured R550m new funding to recapitalise its business as part of a plan that it will strengthen and “safeguard” its operations.

Founded in 2007, the company provides high-speed internet services in countries such as Tanzania, Uganda and the Democratic Republic of Congo ...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

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