Ghana Airports Company Limited continues its development despite the health crisis
Infrastructure financing is a key factor in Africa's development, and Societe Generale intends to further increase its contribution, by growing by 20% over three years its financial commitments related to structured financing in Africa, including infrastructure financing.
In this perspective, the Structured Finance Group for Sub-Saharan Africa (SFG AFS), together with Societe Generale Ghana, arranged a new syndicated loan of USD 124m in favor of Ghana Airports Company Limited (GACL), to refinance short-term debts and the existing commercial facility used for the construction of the Terminal 3 at Kotoka International Airport completed in 2018.
This transaction, closed despite a very challenging environment and timeline, gives a real breath of fresh air to GACL by reducing significantly the debt service burden over the next 2 years; a critical point in the context of the coronavirus crisis where the air traffic industry has been severally impacted.
GACL is one of the key borrowers in Ghana and Societe Generale's mandate is boosting significantly Societe Generale Ghana's positioning in the local market.
Whether from its European bases or through its 19 locations on the African continent, Societe Generale group is deeply involved in infrastructure financing in Africa.