Tizeti, a Nigerian startup specializing in providing wireless internet connectivity through solar-powered networks, has announced securing an undisclosed loan from the Nigeria Infrastructure Debt Fund (NIDF), a subsidiary of Chapel Hill Denham.
This funding will facilitate the expansion of its network to 10 additional states in Nigeria, increasing its total coverage to 15 states. Specifically, Tizeti plans to establish new "last mile" internet infrastructure and acquire additional equipment in the targeted states, including Delta, Akwa Ibom, Cross River, Abia, Anambra, Imo, Enugu, Abuja, Kano, and Kaduna.
In February of 2022, Tizeti unveiled its intentions to broaden its internet network across Nigeria, reflecting its commitment to advancing digital inclusion in Africa by offering affordable broadband connectivity, particularly in underserved areas. The company also expressed its ambition to expand into other West African nations, including Côte d'Ivoire and Togo, and to go public, with a stated financial requirement of $50 million.
In May, Tizeti partnered with Microsoft to connect approximately 5 million individuals in Nigeria and Côte d'Ivoire as part of the "Airband" initiative. Furthermore, in November 2022, the startup signed an agreement with French satellite operator Eutelsat to provide broadband internet in Nigeria through Wi-Fi hotspots.
Kendall Ananyi, founder and CEO of Tizeti, emphasized that the network expansion will act as a catalyst for sustainable development, value creation, improved connectivity, and a broader network of digital inclusion.
