PTCL has signed formal loan agreements with an IFC

PTCL advances Telenor Pakistan acquisition by signing financing agreements with IFC-led consortium

PTCL Group, which inspires the Group’s commitment to excellence in both customer experience and services delivery.

KARACHI+ ISLAMABAD  (  WEB  NEWS   )
Pakistan Telecommunications Company Limited (PTCL) has signed formal loan agreements with an International Finance Corporation (IFC)-led consortium to secure up to $400 million in financing for the acquisition of Telenor Pakistan and Orion Towers (Pvt.) Limited. This is a significant milestone in the acquisition process following the IFC Board of Directors’ approval of the financing deal in Apri 2024.
PTCL entered into a Share Purchase Agreement (SPA) last December with Telenor B.V. to acquire 100% of the shares of Telenor Pakistan at a price of PKR 108 billion on a cash-free, debt-free basis.

The IFC-led consortium, which includes the Silk Road Fund (SRF) and British International Investment plc (BII), has now formally agreed upon a $400 million facility with a seven-year tenor. The facility will be repaid in quarterly installments and includes a one-year capital grace period. The financing of this project is in line with the IFC-led consortium’s commitment to enhancing digital connectivity and narrowing the digital infrastructure gap in Pakistan.

Commenting on the development, President and Group CEO, PTCL & Ufone 4G, Hatem Bamatraf said, “We are thrilled to witness the materialization of this financing deal, which brings us closer to concluding this transformative milestone in Pakistan’s telecom sector. We are eager to serve a larger customer base with renewed commitment as soon as the acquisition process concludes following the necessary regulatory approvals.”

The disbursement of financing is expected to take place following the completion of the conditions as specified in the financing agreements.

PTCL Group integrates advanced AI to achieve customer service excellence.jpg

PTCL Group integrates advanced AI to achieve customer service excellence

Pakistan’s largest telecommunication and ICT services provider, PTCL Group (PTCL & Ufone 4G) has collaborated with STech.ai to integrate an innovative AI-based platform that leverages advanced technologies, including Urdu-based Large Language Models (LLMs), Automatic Speech Recognition (ASR), Natural Language Processing (NLP), and Machine Learning (ML)F to enhance its customer services system.

The platform aims to enhance quality management systems by providing enriched customer sentiment analysis and valuable insights, driving PTCL’s overall customer experience strategy. The strategic initiative underscores PTCL Group’s commitment to excellence in customer experience.
Customer centricity is paramount at PTCL Group, which inspires the Group’s commitment to excellence in both customer experience and services delivery. The company continuously invests, innovates, and refines its business processes. It leverages innovative technologies and customer feedback to enhance every interaction and ensures that each service touch point is seamless, responsive, and efficient to foster a reliable and enriching experience for its valued customers. Looking ahead, the integration of innovative AI will elevate customer experiences to unprecedented heights, setting a new benchmark for the entire industry.

Hatem Bamatraf, President & Group CEO, PTCL & Ufone 4G expressed his enthusiasm for the initiative, saying, “Leveraging contemporary technologies like AI shall be the enabler to improve our customer experience significantly. AI is set to revolutionize the industry, and it is a proud moment for PTCL Group to be at the forefront of this journey.”

Ahmad Kamal, Group Chief Customer Care Officer, remarked, “We are thrilled to announce the launch of the industry’s first Urdu Language AI-enabled Customer Services platform. This initiative aligns with our vision and underscores our commitment to being the best in customer experience. The use of this program will significantly enhance our customer experience in the days to come.”

Adeel Saeed Chaudry, CEO of STech.ai, (originating from the MENA region) stated, “Partnering with PTCL Group is a proud milestone for us. As a pioneering AI company specializing in Conversational AI under the brand BOTWA, our latest AI-driven customer experience solutions demonstrate our commitment to digital transformation and excellence in customer service.

PTCL Group is the backbone of Pakistan’s telecommunications and digital services landscape. It is distinguished by its extensive telecom and digital infrastructure serving a nationwide user base. Its state-of-the-art fiber network, comprehensive cellular and digital services, along with financial offerings, play pivotal roles in enhancing both personal and professional aspects of the lives of millions of customers each day.