TowerCo of Africa Tanzania (TOA Tanzania), a prominent provider of passive telecom infrastructure, has announced the signing of a $30 million financing agreement with British International Investment (BII), the UK’s development finance institution and impact investor.
This substantial investment will enable TOA Tanzania to embark on an ambitious plan to erect approximately 200 additional telecommunication sites across Tanzania. This initiative aligns with TOA Tanzania’s mission to bridge the digital gap in the country and enhance connectivity for underserved communities.
Innocent Mushi, CEO of TOA Tanzania, 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.’
Mushi emphasised TOA Tanzania’s commitment to environmental sustainability and community development. He stated, ‘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.’
The partnership with BII signifies a significant step in advancing digital infrastructure in Tanzania. The Director and Head for Private Debt at British International Investment remarked, ‘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.’
David Concar, British High Commissioner to Tanzania, commented on the investment’s importance, stating, ‘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.’
As part of its assertive growth strategy, TOA Tanzania aims to double its site portfolio size by the end of its first year of operations. The expansion of telecom infrastructure will not only extend network coverage to underserved communities but also bolster government digitization efforts, promote financial inclusion, and create employment opportunities throughout their lifecycle.
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