Smile secures $365M LTE expansion fund

<a href=”http://itpulse.com.ng/wp-content/uploads/2015/09/smile-logo.png”><img class=”alignleft size-medium wp-image-814″ src=”http://itpulse.com.ng/wp-content/uploads/2015/09/smile-logo-300×165.png” alt=”smile logo” width=”300″ height=”165″ /></a> [dropcap] S [/dropcap] mile has in ambitious move to become the broadband provider of choice for super-fast data and clear voice in each of its markets, has secured an equity financing of $365 million. The company said the fund will enable it to expand its 4G LTE broadband network in Nigeria, Tanzania and Uganda. The funding, according to the company will ensure that its customers experience and benefit from the power of high-speed mobile broadband compared to the narrowband services available to date. “The funding is an enabler of Smile’s quest to deepen broadband penetration in Africa, especially in key markets of Nigeria, Tanzania, Uganda and Democratic Republic of Congo,” said Irene Charnley, the chief executive officer of Smile. She said the Smile believes that Nigeria is one of the most dynamic markets in the world and mobile broadband will continue to play a crucial role in the transformation and development of the country. “Smile 4G LTE broadband Internet in Nigeria represents a considerable investment, and reflects Smile’s confidence in and commitment to the country’s development,” she added. Smile Communications is a licensed 4G LTE pan-African telecommunications group with operations in Nigeria, Tanzania, Uganda and the Democratic Republic of Congo. The company rides on the 800MHz spectrum to provide broadband services in the countries it has operations