TowerCo of Africa Tanzania (TOA Tanzania), a leading provider of passive telecom infrastructure, is excited to announce the execution of a $30 million financing agreement with British International Investment (BII), the United Kingdom's development finance institution and impact investor.
This funding will empower TOA Tanzania to execute an ambitious initiative, constructing approximately 200 additional telecommunications sites across Tanzania. This effort aligns with its commitment to narrowing the digital divide in the nation.
Established in February 2023, TOA Tanzania specializes in owning and operating passive telecommunications infrastructure leased to mobile network operators. The anticipated expansion of 200 new sites, strategically positioned throughout the mainland and Zanzibar, will notably enhance coverage, particularly in rural areas. This expansion will connect previously isolated communities, potentially benefiting up to 600,000 individuals by improving their access to communication services.
Mr. 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.”
“We are deeply committed to environmental sustainability and community development,” added Mr. Innocent Mushi. “The design of our new sites prioritizes environmental protection through meticulous site selection, utilization of renewable energy sources, and responsible waste disposal practices.”
Commenting on the partnership, Richard Palmer, Director and Head of Private Debt at British International Investment stated: “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 catalyzing the telecom sector for a digitally empowered society.”
David Concar, British High Commissioner to Tanzania, commented: “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 aggressive growth strategy, TOA Tanzania aims to double its site portfolio size by the end of its first year of operations. Once completed, the new sites will not only extend network coverage to underserved communities but also support government digitization efforts, foster financial inclusion, and generate employment opportunities throughout their lifecycle, from design and construction to maintenance.
