TOA (TowerCo of Africa) Tanzania has signed a US$30 million financing agreement with UK development investor British International Investment (BII).
The agreement will enable TOA Tanzania to deploy a further 200 telecommunications sites across Tanzania as part of its drive to close the country’s digital gap. Positioned strategically across Zanzibar and the mainland, the sites will help to boost coverage nationwide and particularly in rural regions, connecting previously isolated populations.
Innocent Mushi, CEO of TOA Tanzania, said: “With BII’s invaluable support, we are well-equipped to accelerate our growth trajectory and deliver essential telecom services to underserved communities. We are deeply committed to environmental sustainability and community development. The design of our new sites prioritises environmental protection through meticulous site selection, utilisation of renewable energy sources, and responsible waste disposal practices.”
Richard Palmer, Director and Head of Private Debt at British International Investment added: “Expanding digital infrastructure is critical for fostering sustainable economic development in Tanzania. By focusing on rural areas, TOA Tanzania is not only promoting inclusivity but also ensuring that the benefits of technological advancements reach the most underserved communities.”
Founded in February 2023, TOA Tanzania owns and operates passive telecommunications infrastructure for lease to mobile network operators. As part of its growth strategy, the firm aims to double its site portfolio size by the end of its first year of operations. Once completed, the new sites will not only extend network coverage to underserved communities but also support government digitisation efforts, foster financial inclusion, and generate employment opportunities throughout their lifecycle, from design and construction to maintenance.
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Source link : https://developingtelecoms.com/telecom-business/telecom-investment-mergers/16721-bii-to-invest-30m-in-toa-tanzania.html
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Publish date : 2024-05-20 11:44:45
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