TowerCo of Africa Tanzania (TOA Tanzania), a leading provider of passive telecom infrastructure, has announced the signing of a $30 million financing agreement with British International Investment (BII), UK’s development finance institution and impact investor.
This investment will enable TOA Tanzania to carry out an ambitious plan to build around 200 additional telecommunications sites throughout Tanzania, bolstering its mission to bridge the digital gap in the country.
Founded in February 2023, TOA Tanzania focuses on owning and operating passive telecommunications infrastructure for lease to mobile network operators. The anticipated 200 new sites, strategically placed across the mainland and Zanzibar, will significantly increase coverage, particularly in rural regions, linking previously isolated populations which will help to improve the lives of up to 600,000 people.
This financing agreement with BII reinforces our commitment to expanding connectivity and bridging the digital divide in Tanzania. 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.
Mr. Innocent Mushi, CEO, TOA Tanzania
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. We are delighted to work with TOA Tanzania on a shared vision for catalysing the telecom sector for a digitally empowered society.
Richard Palmer, Director and Head of Private Debt, British International Investment
We are delighted to witness the signing of this important BII investment, which will help to expand telecom connectivity and support isolated populations in Tanzania. BII is a key part of the UK’s effort to boost investment into Tanzania, with this investment supporting the recently signed UK-Tanzania Mutual Prosperity Partnership.
David Concar, British High Commissioner to Tanzania
As part of its aggressive growth strategy, TOA Tanzania 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.
Source link : https://www.techafricanews.com/2024/05/21/toa-tanzania-secures-30-million-to-expand-telecom-infrastructure/
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Publish date : 2024-05-21 07:00:00
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