TowerCo of Africa Tanzania (TOA Tanzania), a telecom infrastructure provider, announced a US$30 million financing arrangement with British International Investment (BII), the UK’s development finance institution, this week.
Thanks to the US$ 30 million financing arrangement with British International Investment (BII), TOA Tanzania is poised to establish approximately 200 more telecoms sites across Tanzania. This significant boost to our infrastructure will strengthen our mission to bridge the country’s digital divide and inspire confidence in our future growth.
TOA Tanzania, founded in February 2023, owns and operates passive telecommunications infrastructure leased to mobile network carriers.
The 200 additional sites, strategically positioned across the mainland and Zanzibar, will not only boost coverage, particularly in rural areas but also connect previously isolated populations. This means that up to 600,000 individuals will now have access to the benefits of connectivity, fostering a sense of inclusivity and social responsibility in our expansion plan.
TOA Tanzania’s expansion goal is to double the size of its site portfolio by the end of its first year of operation.
The company stated that the additional locations would increase network coverage to underprivileged communities and help government digitisation efforts once completed.
Innocent Mushi, CEO of TOA Tanzania, said: “This financing agreement with BII reinforces our commitment to expanding connectivity and bridging the digital divide in Tanzania.”
He added: “The design of our new sites prioritises environmental protection through meticulous site selection, utilisation of renewable energy sources, and responsible waste disposal practices.”
Regarding the partnership, Richard Palmer, director and head of private Debt at British International Investment, stated, “Expanding digital infrastructure is critical for fostering sustainable economic development in Tanzania. By focusing on rural areas, TOA Tanzania is promoting inclusivity and ensuring that the benefits of technological advancements reach the most underserved communities.”
Source link : https://broadcastmediaafrica.com/2024/05/24/tanzania-towerco-of-africa-secures-us30-million-investment/
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Publish date : 2024-05-24 07:00:00
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