CDB provides $20 million loan to Reltel wireless Limited to facilitate its acquisition of Huawei equipment
Constant 2017 USD
Funding agency [Type]
China Development Bank (CDB) [State-owned Policy Bank]
Communications (Code: 220)
In 2006, CDB and Reltel Wireless Limited — a private telecoms operator in Nigeria — signed a $20 million loan agreement. The proceeds from the loan were earmarked for the acquisition of telecommunication equipment from Huawei. Reltel Wireless Limited reportedly purchased three major switches for use in Lagos, Port Harcourt and in the capital Abuja. At the time that this loan agreement was signed, Reltel Wireless Limited had an installation capacity of 1.2 million subscribers, making it the largest fixed wireless operator in the country, where it served the key Nigerian cities of Lagos, Port Harcourt, Nnewi and Onitsha. Promptly after this deal, an India-based communications corp bought a majority stake in Reltel Wireless Limited.
Some source suggests that Huawei provided vendor financing (I.e. a supplier credit to Reltel Wireless Limited, and the CDB in turn provided an export seller’s credit to Huawei.
Number of official sources
Number of unofficial sources
Receiving agencies [Type]
Reltel Wireless Ltd. [Private Sector]
Implementing agencies [Type]
Huawei Technologies Co., Ltd. [Other]