TowerCo of Africa (ToA) Tanzania, a subsidiary of the Pan-African telecom service provider Axian Telecom, has secured $30 million in funding from British International Investment (BII), the UK’s development finance institution. This was announced by the company in a statement on Monday.
The funding will enable ToA Tanzania to build 200 new telecommunications sites across the country, aiming to close the digital gap by improving connectivity.
Innocent Mushi, CEO of ToA Tanzania, commented, “This financing deal with BII strengthens our dedication to expanding connectivity in Tanzania. With BII’s support, we can accelerate our growth and provide essential telecom services to underserved areas.”
Mushi further highlighted the company’s commitment to environmental sustainability and community development, explaining that the new sites would prioritize eco-friendly practices, including the use of renewable energy and proper waste management.
The 200 new telecom sites will be built across mainland Tanzania and the Zanzibar islands, focusing on rural areas to improve connectivity for up to 600,000 people who have limited access to telecommunications services.
ToA Tanzania, founded in February 2023, specializes in owning and operating telecommunications infrastructure, which it leases to mobile network operators. The company also operates in Madagascar, Uganda, and the Democratic Republic of Congo (DRC).
Richard Palmer, Director and Head of Private Debt at BII, stated that expanding digital infrastructure is key to promoting sustainable economic development in Tanzania. By focusing on rural regions, ToA Tanzania is ensuring that underserved communities can benefit from technological advancements.
Palmer added, “We are excited to collaborate with ToA Tanzania in our shared mission to drive the growth of the telecom sector and create a digitally connected society. The company aims to double its site portfolio in its first year of operations as part of its aggressive growth strategy.”
The new telecom sites are expected to extend network coverage, support the government’s digitization efforts, promote financial inclusion, and create employment opportunities from the construction phase through ongoing maintenance.
David Concar, the British High Commissioner to Tanzania, expressed his enthusiasm for the investment, noting that it aligns with the UK-Tanzania Mutual Prosperity Partnership, which seeks to increase investment in Tanzania.
Armenian Dram
Ghana Cedi
Gambian Dalasi
Guinea Franc
Nigerian Naira
CFA Franc BEAC
