Ugandan tower firm bags US$40m investment for rural expansion

Ugandan tower firm bags US$40m investment for rural expansion

TowerCo of Africa Uganda has procured funding of US$40 million to boost coverage in rural areas of the country.

The financing will be delivered over a 10-year period, and will be supplied by the European Investment Bank, the Development Bank of Austria (OeEB) and Belgian Investment Company for Developing countries.

TowerCo of Africa Uganda aims to install 506 new telecom towers, positioned strategically in rural areas that currently lack mobile network access or where existing mobile networks are saturated. The towers will enable rural communities to access 4G and 5G data services, mobile money solutions, and foster financial inclusion.

At present only 65% of Uganda has mobile network coverage, and this investment is aimed at overcoming barriers to rural access in order to push Uganda towards its 95% coverage goal. The towers will be shared by multiple mobile network operators, ensuring commercial viability for network expansion and providing more comprehensive and inclusive network access for rural communities.

A significant portion of the new towers will be powered by solar energy, reducing the risk of fuel and generator theft, and aligning with TowerCo of Africa Uganda dedication to responsible infrastructure development and climate action.

Geoffrey Donnels Oketayot, CEO of TowerCo of Africa Uganda, said: "The deployment of hundreds of new telecom towers across Uganda will make a significant leap towards ensuring that no one is left behind in the digital age."

The new telecom towers will be installed over the next two years and the rural telecom expansion initiative is expected to create 2,000 skilled and unskilled jobs for local communities during construction.

Sign-up to our weekly newsletter

Keep up-to-date with all the latest news, articles, event and product updates posted on Developing Telecoms.
Subscribe to our FREE weekly email newsletters for the latest telecom info in developing and emerging markets globally.
Sending occasional e-mail from 3rd parties about industry white papers, online and live events relevant to subscribers helps us fund this website and free weekly newsletter. We never sell your personal data. Click here to view our privacy policy.