TowerCo of Africa Tanzania- TOA Tanzania, a leading provider of passive telecom infrastructure, is delighted to announce the signing of a $30 million financing agreement with British International Investment- BII, the UK’s development finance institution, and impact investor.
Bridging the digital gap
This investment will empower TOA Tanzania to execute an ambitious plan to erect approximately 200 additional telecommunication sites across Tanzania, furthering its mission to bridge the digital gap in the country.
Established in February 2023, TOA Tanzania specializes in owning and operating passive telecommunications infrastructure for lease to mobile network operators. The anticipated 200 new sites, strategically positioned across the mainland and Zanzibar, will notably enhance coverage, especially in rural areas, connecting previously isolated populations and thus enhancing the lives of up to 600,000 people.
Expanding connectivity, essential telecom services
CEO of TOA Tanzania, Innocent Mushi expressed enthusiasm about the partnership, stating, “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.” adds Mushi
Technological advancement for underserved communities
Director and Head for Private Debt at British International Investment states on the partnership, “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.”
British High Commissioner to Tanzania, David Concar comments, “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.”
Source link : https://www.itnewsafrica.com/2024/05/30-million-bolsters-tanzanias-telecom-infrastructure/
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Publish date : 2024-05-20 03:00:00
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