Loading grant details…
ICBC and Standard Bank provide a ZAR 2.251 billion buyer's credit to Telkom in South Africa
| Funder | Industrial and Commercial Bank of China (ICBC) |
|---|---|
| Recipient Organization | Telkom SA SOC Limited |
| Country | South Africa |
| Start Date | Jan 01, 2019 |
| End Date | Jun 10, 2033 |
| Duration | 5,274 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 86753 |
Grant Description
ICBC contrubutes to ZAR 2.251 billion buyer's credit to Telkom in South Africa In 2019, ICBC (中国工商银行) and Standard Bank (SBSA or 标准银行) have issued a syndicated buyer's credit worth ZAR 2.251 billion to South African telecom giant Telkom. The financing will be funded on a 50:50 basis between both the ICBC and the SBSA.
Sinosure provided SA Rand 3.596 billion worth of insurance for this project. The SBSA also provided a down payment facility to facilitate the payment of the 15% deposit.
The loan will be used by Telkom for purchasing the new 4G equipment from Huawei which has a value of USD600 million (ZAR9.7 billion) to support its next generation of products, and the loan will have a tenor of 10-years as made possible by Sinosure.. Thie funding is the first ZAR funding raised from China for Telkom.
Sources & References
- The Asset Triple A Infrastructure Awards 2021
- Sinosure Annual Report 2019
- Report to Society 2019 Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.
All Grantees
Telkom SA SOC Limited
Interested in applying for this grant?
Complete our application form to express your interest and we'll guide you through the process.
Apply for This GrantQuick Summary
Related Grants
