Finnvera guarantees Nokia's deliveries to Ethiopia
Finnvera has issued a credit risk guarantee to cover the financing of Nokia’s receivables from Safaricom Telecommunications Ethiopia PLC, a subsidiary of Safaricom PLC, the largest telecom operator in Kenya. The total amount of guaranteed receivables is EUR 100 million, with a payment term of 23 months. Nokia’s deliveries consist of telecom equipment, software, and related services.
Signing date of the Finnvera Guarantee Agreement: 3 September 2024
Name of the Guarantee Holder: Nokia Solutions and Networks Oy
Discounting bank: Citibank N.A.
Name of the Exporter: Nokia Solutions and Networks Oy
Name of the Buyer: Safaricom Telecommunications Ethiopia PLC
Name of the Guarantor: Safaricom PLC
Project/Export transaction/Goods: Telecommunications equipment and related services
Country of Export transaction/project: Ethiopia
Credit amount: MEUR 100
Credit period: 23 months
Percentage of cover: 95 %
Date of publication: 22 October 2024
