Omanghana
The Emerging Africa and Asia Infrastructure Fund has committed a combined $82.8 million in private debt financing to strengthen mobile and internet connectivity across Africa.
The investment will support two major projects: the expansion of telecommunications towers in the Democratic Republic of Congo and the maintenance of a cross-border fiber-optic network serving 25 African countries.
EAAIF, a member of the Private Infrastructure Development Group managed by global asset manager Ninety One, is providing $32.8 million to Eastcastle Infrastructure DRC and $50 million to Liquid Intelligent Technologies.
The $32.8 million senior secured loan to Eastcastle forms part of an expanded $179 million financing facility. It will support the construction of 728 telecommunications towers, increasing the company’s active network in the DRC from 1,072 to 1,800 sites.
The project is intended to address one of the most severe mobile infrastructure shortages on the continent. The DRC currently has an estimated mobile internet penetration rate of just 17%, while one telecommunications tower serves between 15,000 and 20,000 people. By comparison, the United States has roughly one tower for every 600 people.
About 70% of the new towers will be installed in rural and underserved communities where limited infrastructure has prevented mobile network operators from expanding their services.
The financing will also support the installation of solar panels and lithium batteries at tower sites. These upgrades are expected to reduce dependence on diesel generators and help maintain services during failures of the local electricity grid.
EAAIF’s second commitment is a $50 million loan to Liquid Intelligent Technologies. The funding is part of a wider $450 million restructuring and expansion package designed to improve the company’s capital position and protect its telecommunications assets.
Liquid operates a 110,000-kilometre terrestrial fiber network spanning 25 countries, including Kenya, South Africa and Zimbabwe. The network provides connectivity to telecommunications operators, enterprises, data centers and major global technology companies.
By linking national and cross-border networks, the infrastructure supports broadband services, cloud computing and digital data storage. It also provides businesses with the reliable internet access required to expand their operations and participate in the digital economy.
Environmental conditions attached to the financing align with the sustainability targets of Liquid’s parent company, Cassava Technologies. The group aims to reduce its Scope 1 and Scope 2 greenhouse gas emissions by 42% by 2030.
The two investments address different parts of Africa’s connectivity challenge. Eastcastle’s towers will expand local mobile coverage in underserved areas, while Liquid’s fiber network will maintain the high-capacity links needed to transport data between cities and countries.
EAAIF said supporting both local access points and regional digital corridors is essential to building a reliable communications system capable of driving economic growth, job creation and access to digital services.
The transactions also demonstrate the growing role of long-term private financing in addressing Africa’s infrastructure deficit, particularly in markets where commercial lenders may be reluctant to fund large or complex telecommunications projects.
Source: Omanghana
