Africell Holding completes strategic group restructure

Africell, a US-owned mobile network operator with more than 12 million customers in four African countries, has announced the completion of a significant group reorganisation.

The restructure involves the opening of a new London head office and the legal incorporation of Africell’s US-owned parent company in Jersey, a recognised international financial centre.

According to the company, the reorganisation is an important strategic step for Africell as it seeks to build on current operations and position itself for exciting opportunities in new markets.

Ziad Dalloul, founder and CEO of Africell, said: “The Group reorganisation is a significant moment for Africell. The changes enacted certify us as a company with bold growth plans, a thoroughly international perspective, and the highest standards of governance and compliance. Africell’s entrepreneurial culture drawn from Lebanon, where Africell was founded, still drives the business on, but our new London base gives a new platform from which we can deliver the next stage of our firm’s development.”

Ian Paterson, chief investment officer, Africell, said: “Being headquartered in a dynamic hub like London and incorporated in a major international financial centre such as Jersey gives Africell superior access to investors and partners. It also improves the visibility – and achievability – of exciting new business opportunities, such as the fourth network license in Angola, for which Africell was recently invited to submit a proposal and which we are keen to pursue in partnership with the government of Angola.”

Africell provides fast, low-cost and reliable mobile network coverage and related technology services to millions of individuals, communities and businesses in four African countries namely Sierra Leone, Gambia, Democratic Republic of Congo and Uganda.