TOA Tanzania owns and operates passive telecommunications infrastructure for lease to mobile network operators across mainland Tanzania and Zanzibar. Established in February 2023, the company focuses on expanding coverage in underserved and rural areas. It has secured a $30 million financing agreement to support growth and build roughly 200 additional sites. The planned expansion aims to connect up to 600,000 previously isolated people. TOA emphasizes environmental sustainability through careful site selection, use of renewable energy sources, and responsible waste disposal. Leadership highlights the partnership with the investor as critical to accelerating deployment of essential telecom services. TowerCo of Africa Uganda builds and operates shared telecom towers to extend mobile network coverage in underserved rural areas. The company has secured a US$40m financing from European development finance partners to fund the installation of 506 new towers. The roll-out will occur over the next two years and is expected to create local construction jobs. The new towers will largely be powered by renewable (solar) energy and will support 4G and 5G data services, mobile money and broader financial inclusion. Towers will be shared by multiple mobile network operators to address coverage gaps where networks are lacking or oversubscribed. The project supports Uganda’s goal to increase national mobile coverage from the current 65% toward 95%.

Total raised

$70M

Funding rounds

4

Latest round

Equity

Latest activity

May 2024