The Emerging Africa and Asia Infrastructure Fund (EAAIF) has committed $82.8 million to bolster telecommunications infrastructure across Africa, targeting fiber-optic expansion and mobile tower density. The fund has approved a $50 million loan to Liquid Intelligent Technologies as part of a broader capital restructuring package that will enable it to maintain its 110,000-kilometer fiber network across 25 countries. Additionally, EAAIF will provide Eastcastle Infrastructure Ltd. with $32.8 million, part of a $179 million funding package, to increase its tower network in the Democratic Republic of Congo, which has one of the world’s lowest tower densities. EAAIF says the investments reflect its strategy of scaling Africa’s digital economy. The fund is on pace to exceed $200 million in financing this year, with plans to invest more than $1 billion in infrastructure across the continent by 2028.
Bloomberg