By: Reuters 23rd July 2009 Vodacom Tanzania, an arm of leading South African mobile operator Vodacom, has secured a $90-million syndicated loan from local banks, in a five-year deal expected to raise $150-million, the company said. Telecoms is one the country's most vibrant industries, growing 20.5% last year compared with 20.1% a year before. "This funding is critical to our growth plans and will go a long way in facilitating better service for the consumer," Vodacom Tanzania MD Dietlof Mare said in a statement seen by Reuters on Thursday. Vodacom did not give more details of what the money will be used for. "The initial $90-million multi-currency financing has been completely sourced through local banks along with Citibank Tanzania Limited," the statement said, adding that the bank would be responsible for raising the remaining $60-million overseas. As at end-March, Vodacom had just over 5,67-million subscribers out of the country's total 13,88-million mobile users, up from just over 5,4-million customers at last year's close. The east African nation of 40-million had 13-million mobile phone subscribers at the end of 2008. Eight other local banks were involved in raising the local part of the loan.