Deal Street

Malawian Company Open Connect Limited (OCL) Raises USD 10 Mn
Malawian Company Open Connect Limited (OCL) Raises USD 10 Mn

Malawian Information Technology company Open Connect Limited (OCL) has received a loan of up to USD 10 Mn from the International Finance Corporation (IFC).

Incorporated in 2016, Open Connect Limited is an open access network company that provides carrier and fibre network services to all telecommunications providers, ISPs, and corporate consumers in Malawi. The company will use the fund in complementing its equity investments for its capital expenditure programme.