TANZANIA – TowerCo of Africa Tanzania (TOA Tanzania), a provider of passive telecom infrastructure, has announced the signing of a US$30 million financing agreement with British International Investment (BII), the UK’s development finance institution and impact investor.

This investment will enable TOA Tanzania to implement an ambitious plan to build around 200 additional telecommunications sites throughout the country, bolstering its mission to bridge the country’s digital gap.

This financing agreement with BII reinforces our commitment to expanding connectivity and bridging the digital divide in Tanzania,” Innocent Mushi, CEO of TOA 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 prioritizes environmental protection through meticulous site selection, utilization of renewable energy sources, and responsible waste disposal practices.”

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.

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,” Richard Palmer, director and head of private debt at BII, stated.

We are delighted to work with TOA Tanzania on a shared vision for catalyzing the telecom sector for a digitally empowered society.”

The new sites are expected to extend network coverage to underserved communities, support government digitization efforts, foster financial inclusion, and generate employment opportunities throughout their lifecycle, from design and construction to maintenance. 

“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,” said David Concar, British High Commissioner to 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.” 

ToA operates in Madagascar, Uganda, and the Democratic Republic of Congo (DRC).

Liked this article? Subscribe to DealStreet Africa News, our regular email newsletter with the latest news, deals and insights from Africa’s business, economy, and moreSUBSCRIBE HERE